The feasibility of picture-based insurance (PBI): Smartphone pictures for affordable crop insurance

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dc.creatorCeballos, Francisco
dc.creatorKramer, Berber
dc.creatorRobles, Miguel
dc.date2018-12-31
dc.date2024-06-21T09:05:18Z
dc.date2024-06-21T09:05:18Z
dc.date.accessioned2026-06-27T15:42:38Z
dc.descriptionSmallholder farmers are increasingly exposed to weather extremes but lack access to affordable insurance products to protect their livelihoods from catastrophic crop damage. This paper analyzes the feasibility of Picture-Based Insurance (PBI) as a tool to improve the quality and affordability of crop insurance. Under PBI, insurance claims are verified using a time-lapse of pictures from insured plots, both pre- and post-damage, taken by farmers themselves using regular smartphone cameras. PBI aims at minimizing asymmetric information and costs of claims verification compared to indemnity insurance, while reducing basis risk and improving trust, tangibility, and understanding compared to index-based insurance. A pilot implementation in the rice-wheat belt of India speaks to PBI being a feasible and valuable complement to existing insurance products. Damage is visible from smartphone pictures, farmers can take pictures of sufficient quality for loss assessment, and PBI helps reduce severe downside basis risk at minimal cost.
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/145897
dc.identifier.urihttp://hdl.handle.net/123456789/112439
dc.languageen
dc.publisherInternational Food Policy Research Institute
dc.relationhttps://hdl.handle.net/10568/148110
dc.relationhttps://hdl.handle.net/10568/148111
dc.relationhttps://hdl.handle.net/10568/145739
dc.relationhttps://doi.org/10.1016/j.agrformet.2018.11.002
dc.relationhttps://doi.org/10.1016/j.deveng.2019.100042
dc.relationhttps://doi.org/10.1111/1477-9552.12403
dc.relationhttps://doi.org/10.22004/ag.econ.275926
dc.relationhttps://doi.org/10.2499/p15738coll2.134239
dc.rightsOpen Access
dc.sourceCeballos, Francisco; Kramer, Berber; and Robles, Miguel. 2018. The feasibility of picture-based insurance (PBI): Smartphone pictures for affordable crop insurance. IFPRI Discussion Paper 1788. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/145897
dc.subjectinsurance
dc.subjectmobile phones
dc.subjecttechnology
dc.subjectcapacity development
dc.subjectsmallholders
dc.subjectcrop insurance
dc.subjectinformation and communication technologies
dc.subjectrisk
dc.subjectfinance
dc.subjectphotography
dc.titleThe feasibility of picture-based insurance (PBI): Smartphone pictures for affordable crop insurance
dc.typeWorking Paper

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Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)