Allianz partners with OKO for the development of index-based crop insurance in Africa

fr en

Allianz has entered a cooperation partnership with the InsurTech start-up OKO.

<< Back
06/08/2019 | Partenariat
  • Allianz

    An early adopter (and beneficiary) of OKO’s mobile crop insurance in Mali

The partnership aims at bringing crop insurance in an innovative and efficient way to smallholder farmers in Africa. Allianz and OKO will design indexinsurance products that automatically compensate farmers when they are facing
adverse weather. In this partnership OKO will bring its data-science expertise and its mobile distribution technology, while Allianz will assist in underwriting and re-insuring the crop insurance products.

This is a second step in a collaboration that started with a pilot programme in Mali where OKO demonstrated its ability to bring insurance to un-banked populations using mobile phones. Regardless of their device, Malian farmers
have been able to access insurance, pay using Mobile Money and receive claim payment on their phone, all thanks to OKO.

“Allianz is constantly looking for propositions specially designed to improve the lives of people in our emerging consumers segment. We believe that OKO has the potential to increase insurance penetration in rural areas, which are
traditionally under-served and thereby unlock an enormous market”, said Neeraj Maheshwari, Head of Micro-insurance at Allianz Africa.

“For OKO it is a massive step forward to partner with such a large and innovative company. We will now be able to enter new markets and work towards our goal of making African farmers more resilient to climate risks” said Simon Schwall, CEO of OKO.

Established in 2018, OKO uses satellite data and partnership with mobile operators to secure the income of farmers through automated insurance products. The company is supported by the European Commission and has been recognised by Orange as the most promising start-up in Africa, winning the Orange Social Venture Prize 2018. OKO was recently awarded runner-up of the Fintech Awards 2019 jointly organized by KPMG Luxembourg and the
LHoFT (The Luxembourg House of Financial Technology) where OKO is based.

Back to top  | << Back

Communiqués liés

stock-acier-lifteurop-press (002)
20/08/2019

Le respect de l’environnement : un prérequis pour les fou...

Dans le cadre de sa politique RSE, LIFTEUROP place le respect de l’environneme...

Lifteurop
Advanzia-JohannesNeander 9482 (002)
19/08/2019

Mastercard and Advanzia: Working together for a world withou...

Advanzia Bank is proud to support the Mastercard - World Food Programme partners...

Advanzia Bank S.A
TEST MY PITCH - logo (002)

Once upon a pitch, you made an impact.

We have all listened to a presentation and walked away without remembering what ...

stepping-Stone Sarl
2 - Source The State of Maritime Piracy 2018  One Earth Future (002)
12/08/2019

Kleos Space change d’orbite en réponse à la demande du m...

4,5 fois plus de données dans les zones d'activités illégales principales en ...

Kleos Space S.A.
ERG
12/08/2019

ERG’s Metalkol RTR announces inaugural Clean Cobalt Perfor...

Eurasian Resources Group (“ERG” or “The Group”), a leading diversified n...

Eurasian Resources
469544 (002)
09/08/2019

Dunlop Sport Classic tops Auto Bild Klassik’s vintage tire...

The Dunlop Sport Classic acknowledges like no other vintage tire that classic ve...

Goodyear Dunlop

Il n'y a aucun résultat pour votre recherche

We use cookies to ensure the best experience on our website. By accepting you agree the use of cookies. OK Learn more