PULA

At Pula, we are radically restructuring insurance, using technology and parametric

insurance to insure the previously unbanked, uninsured, untapped market of 1.5
billion smallholders worldwide.
We work across Africa and Asia, and in 2019 alone, we facilitated crop and livestock
insurance cover to 1.1mln farmers and have offered our products in 11 markets . Since
starting in 2015, our products have impacted over 4.9 Million smallholder farmers.
 WHERE WE WORK
We work across Africa and Asia, and in 2019
alone, we facilitated crop and livestock
insurance cover to 1.1mln farmers and have
offered our products in 11 markets . Since
starting in 2015, our products have impacted
over 4.9 Million smallholder farmers.
 FOUNDERS
Our Founders work in insurance has been
recognized by several international awards
including the Financial Times/IFC Award for
Sustainable Finance, the Singapore Fintech
Festival, Womens World Banking, Credit Suisse,
and InsureTech3.0
 Who we work with
• Both commercial and residential medium
income and high income earners those leaving
superb areas these where my market and
those people who consumer a lot of these
services
• Categories them in terms of geography some
areas have high end others low income
earners
 PATRNERS
We partner with organisations across multiple
value chains, from agriculture to renewable
energy including Fortune 500 Companies,
Global NGO’s, Microfinance Instructions,
Research Institutions, and Governments to help
provide households the protection they need in
an increasingly unpredictable climate.
 OUR PRODUCTS
Insurance
Crop and livestock insurance
Field sense
 Crop insurance
• Against a wide range of climate risks including
drought, excessive rainfall, pests and diseases,
and several other perils that negatively affect
their yields. We partner with local insurance
companies and global reinsurance firms to
underwrite risk.
• Pula handles product design, risk placement,
farmer education, claims assessment, and
payouts.
 Area Yield Index Insurance

Pula’s Yield Index Insurance (YII) covers all

risks that affect yield. YII cover insures the
value of the purchased inputs against low yield,
and would replace the purchase to registered
farmers at the end of the season. Under this cover,
the country is divided  into agro-ecological zones
(AEZs) based on historical rainfall, temperatures,
prior yields etc, and average historical yield data
is determined for each zone based on past data.
 Hybrid Index Insurance
• Hybrid index insurance is a combination of Weather Index
Insurance (WII) and Area Yield Index Insurance (YII). It
offers comprehensive coverage for farmers as it maximizes
on the advantages of both insurance products.
• Based on it’s structure farmers can receive quick payout
under weather index. Which would provide farmers with a
means of replanting or possibly use funds for other
immediate in-season household needs.
• This scheme also ensures that farmers receive a
comprehensive insurance that covers against all major
perils both drought as well as flood, pests and diseases
 Index-Based Livestock Insurance

• Pula’s Index-Based Livestock Insurance (IBLI) is a comprehensive

insurance cover that consists of dekadals (10-day periods) running
for one year within which pastoralists are protected when their land
for grazing is not sufficient. They are protected against damage to
grassland caused by a variety of risks.
• The purpose of the cover is to respond to the onset of severe droughts
and loss of pasture and grazing reserves by making timely payouts to
vulnerable farmers, enabling them to purchase supplementary
livestock feed, transport the animals to better grazing land, or for sale,
create water bodies as communities in order to keep their core
breeding animals alive during the droughts. As such this is a large-
scale asset protection cover.
 Stragies we use
The index is determined using
satellite Normalised Difference Vegetation
Index (NDVI) data. NDVI is a measure of the
greenness and healthiness of plants on the
ground.
 Impact of crop insurance
Pula has worked with WFP over 3 years to
provide crop insurance to farmers in Kitui,
Kenya. Over the past three years, the programme
has grown from 1,000 to about 10,000 insured
farmers, and crop loss compensation amounting
to US$766,000
 Part 2
•
In 2020, Pula worked with the Central Bank of
Nigeria to insure about 543,000 farmers for the
wet season.
• Of these, 196,301 were under the National
Cotton Association of Nigeria (NACOTAN)
and 235,907 were rice farmers under the Rice
Farmers Association of Nigeria (RIFAN) and
NIRSAL MFB.
 How
• Most farmers are in die situation in our
country as case studies can reveal .
• Its therefore that we come we this proposal to
cushion famers in our country incase anything
will come upon their crops.
• This measures makes sure farmers will at least
certain their themselves.
Cost analysis