HARA shines in World Bank Group’s Agri Insuretech Challenge for Innovative Agriculture Solutions!
This month, the World Bank Group announced the winners of the Agriculture Insuretech Innovation Challenge at Mumbai. We are happy to share that HARA is one of them!
The Agri Insuretech Forum, hosted by the World Bank Group’s Global Insurance Index Facility (GIIF) and Intellecap’s Sankalp Forum, took place in the Taj Mahal Hotel, Mumbai on July 8–9, 2019. Leading insurance companies, government officials from the Ministry of Agriculture, impact investors, and innovators incubators from the agriculture, technology, and insurance sectors participated in the event.
Panel discussions brought together agri-insuretech stakeholders, such as innovators, academia, fintech service companies, and governments to deliberate on how technology can disrupt traditional insurance models and create meaningful change. Vikas Bali, CEO of Intellecap Advisory Services, reflected on the impact of the event, noting, “Solving agri and smallholder farmer incomes is key to making a more equitable and sustainable ecosystem. We have brought together innovators from 21 countries who will drive this change. This summit is just the start of a long eventful journey.”
Agriculture insurance is a vital lifeline for the 500 million smallholder farmers around the world — especially for those who live in Asia. With around 400 million farmers living in one of the world’s most climate-exposed territories — 45 percent of the world’s natural disasters occurred in the region in the past three decades — the need for effective and sustainable markets for agriculture insurance has never been more apparent. As such, to support these farmers, GIIF initiated the Agri Insuretech Challenge.
The Agri Insuretech Challenge awards some of South and Southeast Asia’s most promising entrepreneurs who are using technology to address challenges in providing agricultural insurance to farmers. Winners will collaborate with GIIF to develop their solutions and improve their uptake. HARA (Indonesia), alongside ICT 4 Agri (Nepal) and HF Mlog, have been recognized as the Sales and Distribution winners. We are humbled by this award and are looking forward to this new partnership!
Dr. Ashish Kumar Bhutani, CEO of Pradhan Mantri Fasal Bima Yojana (PMFBY) Government of India
Additional Info
Keynote speaker, Vineet Rai, CEO of leading impact investment group, Aavishkaar Capital said, “There is a huge opportunity for entrepreneurs if they look at different verticals in the agriculture value chain and create specialization. Capital should not be an issue as there is serious interest in agri tech from the investor community.”
About the GIIF:
The World Bank Group, through the Global Index Insurance Facility (GIIF), helps smallholder farmers and micro-entrepreneurs gain better access to finance, manage financial losses, and protect their livelihoods against more frequent and more severe weather events. With an objective to develop effective and sustainable markets for agriculture insurance, GIIF, since 2009, has facilitated more than 4.6 million contracts, covering over 23 million beneficiaries and $730 million in agricultural investments insured in more than 30 developing countries. For more information, visit: www.indexinsuranceforum.org
About Sankalp Forum:
Sankalp Forum was initiated in India in 2009 by Intellecap, part of the Aavishkaar Group, to create a thriving ecosystem for business-led inclusive development. Over the past 10 years, Sankalp has built one of the world’s largest impact enterprise focused platforms that have showcased and discovered 1600+ entrepreneurs, through 20+ editions and has connected them to 500+ investors. Sankalp has enabled enterprises and entrepreneurs and has helped raise over USD 250 million in funding. Sankalp Forum engages with Governments, Corporations, influential platforms like the G8 and G20, media and civil society to drive a paradigm shift in inclusive development approaches. With a global network of 100,000+ ecosystem players, we continue to build businesses for the next 3 billion. For more information, visit: www.sankalpforum.com
Learn more about HARA
- Visit the HARA website
- Read our White Paper
- Follow our Social Media
Facebook, Twitter, Instagram, Medium & LinkedIn
Legal Disclaimer. Contributions/Investment/trading in digital assets have a relatively high risk and may not match all types of investors. The value of the digital asset is very highly volatile. This could mean potential huge profits, this also could mean potential huge losses. HARA Tokens are digital assets, so if you are interested in becoming a HARA contributor, you must convince yourself of all aspects of HARA: technology, business models, and other related factors. You should be aware of the risks of failure will still exist. HARA cannot guarantee or be held responsible for any gains or losses from the performance of HARA Token which will fully be determined by market forces.
