FinAccess data shows that in 2009 only 7% of Kenyan adults used any insurance product, up only modestly from 6% in 2006. The use of conventional agricultural insurance products, like other types of insurance, is very limited in Kenya.
Index-based weather insurance (IBWI) offers a powerful new way to tackle the risks associated with rain-fed agriculture, on which the livelihoods of so many African smallholder farmers depend.
FSD Kenya. (2010). Index-based weather insurance project briefing note. Nairobi, Kenya: FSD Kenya.