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Brussels Briefing n. 55: Annette Houtekamer "IBISA: Inclusive Blockchain Insurance using Space Assets"

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The Brussels Development Briefing n. 55 on "Opportunities of blockchain for agriculture" organised by CTA, the European Commission/EuropeAid, the ACP Secretariat, Concord and BMZ was held on 15th May 2019 (9h00-13h00) at the ACP Secretariat, Avenue Georges Henri 451, 1200 Brussels, Room C.

Publicada em: Tecnologia
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Brussels Briefing n. 55: Annette Houtekamer "IBISA: Inclusive Blockchain Insurance using Space Assets"

  1. 1. Scaling mutual protection. Brussels Policy Briefing n.55 15 May 2019
  2. 2. PROBLEM Crop micro-insurance today is expensive, cumbersome and hardly available. The current business model does not scale-down well to micro-insurance. 500+ million farmers worldwide are exposed to weather risks and there is no sustainable solution for them. 2
  3. 3. SOLUTION IBISA is a scalable alternative to insurance for crop protection, where risk is mutualized. IBISA is based on a peer-to-peer risk-sharing system supported by blockchain and Earth Observation technologies to enable profitable crop protection products and drastically reduce costs typically incurred by traditional insurer- centric paradigms. 3
  4. 4. TRACTION Partners Customers 4 16 Strategic Partnerships Worldwide 2600 Farmers enrolled for pilot phase through our local partners in India, Niger, Bangladesh, Kenya and/or Guatemala
  5. 5. MARKET SIZE 500 MILLION Small-scale farmers need crop protection 8000 MILLION EUR untapped market 16 EUR average membership (premium) *Source: ‘Insurance provision in the world’s 100 poorest countries’ study by the Micro Insurance Centre 5 160 MILLION EUR contributions per year With 10 million customers (2% market share)
  6. 6. PRODUCT Modelled according to the real demands of farmers Value for money thanks to low overheads Premium payments in small instalments Automatic and fast indemnification without the need to file a claim Affordable Protection Transparent Product Mobile and Instant Easy, no claims! 6
  7. 7. PRODUCT 7 Farmers are on-boarded in IBISA with the support of our local partners Farmer’s plot is added and she adheres to a coverage, for example ‘excess rain’ or ‘drought’ Membership and maximum payout are calculated Farmer contributes flexibly to her membership using mobile money. She will be protected proportionally to her contribution. Every month IBISA assesses the loss in the communities using satellite earth observation data The assessment triggers the payout, proportional to the loss, without need to file a claim and she receives it in her mobile money wallet
  8. 8. MARKET ADOPTION DHAN is a Development Organization working in India since 1997 with 1,2 million families spread over 14 states in India. DHAN People Mutuals provides access to insurance products. IBISA will be one product in their portfolio. During the pilot phase, that started in March 2019, DHAN will launch IBISA in 7 different locations including 1000 farmers. Our channel is through local partners trusted by farming communities India deployment with DHAN 8 Photo source Annette Houtekamer
  9. 9. MARKET ADOPTION Niger pilot is co-financed by the Luxembourg Government and it is in partnership with DRAXIS and RBM. Le Réseau Billital Maroobé has 80 professional organizations with a total membership of 750,000 members and acts on behalf of 2,500,000 beneficiaries. DRAXIS has an extensive experience with the development of applications for farmers based on weather and Earth Observation. Our channel is through local partners trusted by farming communities Niger deployment with RBM 9Source photo Soumaré Boubacar
  10. 10. Blockchain Parametric Insurance Earth Observation 10 ENABLING TECHNOLOGIES Maximum number of administrative tasks automated in a decentralized and transparent way, reducing the risk of error. Resiliency, trust and scalability Unique innovation combining advanced EO products and human analysis. Scalability and cost-efficiency Parametric Insurance leads to scalable and lower loss assessment cost. Historical EO data to calculate the membership participation (premium)
  11. 11. ROADMAP Expansion to Bangladesh & Kenya or Guatemala (1300 cc) In-country expansions >400,000 c In-country expansion +additional countries >1,200,000c In-country expansion +additional countries >4,000,000c 2018 2019 2020 2021 2022 Technology / Product Traction / Growth Front-end & Back-end POCs MVP launch Production Partners built-in governance New Products 16 deployment partners signed Pilots India and Niger (1300 committed customers) 11
  12. 12. LEGAL, REGULATORY AND IP 12 P2P-risk sharing is not clearly subjected to insurance regulation, and is a topic of study on IAIS (International Association of Insurance Supervisors), where a lighter and dedicated regulatory framework is foreseen IBISA has already applied most of the regulatory constrains associated to insurance, such as minimum solvency calculation, transparency and customer protection The team is in regular contact with Commissariat aux Assurance, the Luxembourg regulator of insurance sector, IAIS and working with specialized law firms in Luxembourg and India The team is working with a law firm specialized on Intellectual Property to strategically protect IBISA’s IP
  13. 13. PRESS & AWARDS Luxemburger Wort 7 September 2018 PaperJam 12 October 2018 Luxembourg House of Financial Technology, 4 July 2018 13
  14. 14. PRESS & AWARDS IT Nation – Winter 2018 PaperJam – 25 October 2018 14
  15. 15. PRESS & AWARDS The “Finance Inclusion Award” is a price provided by KPMG and the Luxembourg House of Financial Technology and delivered personally by the Minister of Finance 15
  16. 16. ACCELERATORS http://www.lhoft.com Luxembourg IBISA was selected for Springboard Business of Blockchain Lab in New-York https://www.sbtih.com/business-of-blockchain-lab/ https://www.unchainventures.com/ San Francisco 16
  17. 17. ACCELERATORS 17
  18. 18. THANK YOU Ibisa.network 18