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InsurFarm SIGNED

Oko's mobile-centric micro insurance protecting small farmers in developing countries from climate risks

Total Cost €


EC-Contrib. €






 InsurFarm project word cloud

Explore the words cloud of the InsurFarm project. It provides you a very rough idea of what is the project "InsurFarm" about.

african    market    poverty    automatically    creates    financial    banked    locked    engage    people    service    payment    companies    solution    fast    grow    contracts    feasibility    oko    farms    pay    80    compensates    launch    countries    followed    validate    rural    illiterate    markets    2050    valuable    farmers    technologies    insurfarm    billion    mali    income    located    operator    global    prediction    data    expose    food    desperately    secures    commercial    innovations    worth    accessible    basic    deprived    farming    offers    ubiquity    harvest    satellite    economic    loans    tools    un    leverages    critical    automated    operations    models    phones    affordable    conduct    globally    bank    losing    insurance    opportunity    sustainability    60    risk    sms    crop    operators    insure    successful    subscribe    phone    smallholder    source    adverse    plan    pan    weather    invest    mobile    pilots    create    agriculture   

Project "InsurFarm" data sheet

The following table provides information about the project.


Organization address
city: TEL AVIV
postcode: 6249601
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Israel [IL]
 Project website
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-02-01   to  2019-07-31


Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    OKO FINANCE LTD IL (TEL AVIV) coordinator 50˙000.00


 Project objective

Agriculture is a source of income for 2 billion people globally who grow the food we desperately need – 60% more food will be needed by 2050. Of these, smallholder farmers provide 80% of the food in developing countries, and their sustainability is critical. These farmers are at ever increasing risk of losing their harvest due to adverse weather. Yet, due to this risk, most farmers are deprived from basic financial tools to insure their farms and have no access to loans needed to invest or adopt new technologies. They are locked in poverty. Crop insurance is a solution that effectively secures farming income, but it is not accessible to them, as most are un-banked and illiterate. OKO’s InsurFarm solution offers these farmers with an accessible, affordable and fully automated insurance solution. OKO leverages the ubiquity of mobile phones and mobile payment, and the availability of satellite and weather data to create a new kind of insurance product. Using weather prediction and automated contracts, InsurFarm’s unique insurance automatically compensates farmers located in areas affected by adverse weather. Farmers subscribe to this insurance via SMS and pay using any kind of mobile phone, no bank needed. The innovations brought by OKO are highly valuable for insurance companies as OKO creates a new market for them, estimated to be worth € 7.5 billion globally. It also represents a unique opportunity for OKO’s mobile operator partners to offer a new “mobile financial service” to rural users. After successful pilots in Mali, OKO seeks funding to conduct a feasibility study for a pan-African followed by a global commercial launch. During this project, it will conduct market and economic studies, engage with insurance companies and mobile operators, expose InsurFarm to farmers, validate its models and define an adaptation plan to allow global operations. This will lead to a plan to achieve strong growth and fast access to markets.

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The information about "INSURFARM" are provided by the European Opendata Portal: CORDIS opendata.

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