We design and deliver best in class yield index insurance products to protect farmers
Against a wide range of climate risks including drought, excessive rainfall, pests and diseases, and several other perils that negatively affect their yields. We partner with local insurance companies and global reinsurance firms to underwrite risk.
Pula handles product design, risk placement, farmer education, claims assessment, and payouts.
Area Yield Index Insurance
Pula’s Yield Index Insurance (YII) covers all risks that affect yield. YII cover insures the value of the purchased inputs against low yield, and would replace the purchase to registered farmers at the end of the season. Under this cover, the country is divided into agro-ecological zones (AEZs) based on historical rainfall, temperatures, prior yields etc, and average historical yield data is determined for each zone based on past data.
At the end of the season, trained enumerators measure yield levels for each agro-ecological zone. With this information, farmers will receive compensation if yields in a specific agro-ecological zone are below a determined trigger level.
Hybrid Index Insurance
Hybrid index insurance is a combination of Weather Index Insurance (WII) and Area Yield Index Insurance (YII). It offers comprehensive coverage for farmers as it maximizes on the advantages of both insurance products.
Based on it’s structure farmers can receive quick payout under weather index. Which would provide farmers with a means of replanting or possibly use funds for other immediate in-season household needs.
This scheme also ensures that farmers receive a comprehensive insurance that covers against all major perils both drought as well as flood, pests and diseases.