Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia

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dc.creatorMalik, Ravinder Paul Singh
dc.creatorAmarnath, Giriraj
dc.date2021-11-09
dc.date2021-11-09T15:17:39Z
dc.date2021-11-09T15:17:39Z
dc.date.accessioned2026-06-27T18:34:41Z
dc.descriptionThe International Water Management Institute (IWMI) has recently developed an innovative Index-based Flood Insurance (IBFI) product to facilitate the scaling of flood insurance particularly in vulnerable economies, to provide risk cover to poor farmers against crop losses that occur due to floods. While the product developed is technically very sound, the economics of such an intervention is important to ensure the large-scale acceptance and adoption of the product by different stakeholders and for its sustenance in the long term. This paper attempts at conducting an ex ante assessment of the economics of IBFI from the perspectives of the three main stakeholders: farmers, the insurance company and the government. The paper discusses the methodological challenges and data issues encountered in undertaking an economic analysis of such a product. The issues and processes involved have been empirically demonstrated using a theoretical case study based on a synthesis of information drawn from a host of sources and certain assumptions. Field-based data are now being collected and analyzed from the locations where IBFI has recently been piloted by IWMI. This will help in further refining the process of economic evaluation and identifying the experiences of different stakeholders.
dc.formatapplication/pdf
dc.identifierhttps://hdl.handle.net/10568/115920
dc.identifier.urihttp://hdl.handle.net/123456789/159916
dc.languageen
dc.publisherInternational Water Management Institute
dc.rightsOpen Access
dc.sourceMalik, Ravinder Paul Singh; Amarnath, Giriraj. 2021. Economics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia. Colombo, Sri Lanka: International Water Management Institute (IWMI). 34p. (IWMI Working Paper 199) [doi: https://doi.org/10.5337/2021.228]
dc.subjectflooding
dc.subjectagricultural insurance
dc.subjectcrop insurance
dc.subjecteconomic analysis
dc.subjectstakeholders
dc.subjectdisaster risk management
dc.subjectfarmers
dc.subjectstate intervention
dc.subjectflood damage
dc.subjectcrop losses
dc.subjectcompensation
dc.subjectsubsidies
dc.subjectinsurance premiums
dc.subjectcost benefit analysis
dc.subjecteconomic viability
dc.subjectsustainability
dc.subjectvillages
dc.subjectremote sensing
dc.subjectdatasets
dc.subjectmodels
dc.subjectdeveloping countries
dc.subjectcase studies
dc.titleEconomics of Index-based Flood Insurance (IBFI): scenario analysis and stakeholder perspectives from South Asia
dc.typeWorking Paper

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