Can Satellite Data Improve Insurance Scheme for Pastoralists in East Africa?

Contrary to traditional insurers, who find it challenging to offer coverage because the expenses of evaluating claims for livestock on the ground in situations like drought are exorbitant, satellite technology allows insurance companies to estimate losses without physically monitoring the animals. The article will examine Africa's insurance industry and how satellite technology aids insurers in a specific segment of the agricultural sector – pastoral farming.

Mustapha Iderawumi

November 2, 2023

Africa’s insurance industry, relative to its substantial population, having nearly 20% of the world’s population, has a disproportionately low share of insured catastrophe losses, accounting for less than 1% of the global total. This disparity is mainly due to the limited insurance penetration, particularly among low-income groups, with agriculture being a significant example. Despite these...

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