Helping Communities Manage risks from the ground up.

21 July 2011. New Delhi. Over 50 representatives from NGOs, community and grassroots organizations, research institutions and insurance companies engaged in a discussion today on a multi-year project called ‘Climate Resilience through Risk Reduction using Microinsurance Solutions’ in India. The day-long workshop was organized by the Micro Insurance Academy (MIA) and BASIX-CTRAN Consulting, who have been mandated by the Climate Change and Development Division (CCD) of the Embassy of Switzerland to jointly lead this initiative. The purpose of the workshop has been to establish the context of the initial assessment process, including the definition the scope of the project, considering important stakeholders and establishing a framework for identifying and analyzing risks.

Dr K R Viswanathan, Senior Advisor, Embassy of Switzerland told participants in Delhi that “We believe that supporting the long-term implementation of this project is in the common interest of India and Switzerland.”

Dr. David Dror, Chairman of MIA explained,  “The main focus of this project will be on microinsurance solutions since microinsurance can be a powerful means to reduce the vulnerability of the Base of the Pyramid and enable them to better protect themselves against the risks due to climate change. MIA’s mission is to help communities manage risks from the ground up and through this initiative we can enable grassroots groups to manage risks related to climate change.”

The project envisages that by the end of three years (in 2014), three objectives would have been achieved: 1. Vulnerable communities would have accepted and adopted climate change insurance models; 2. Knowledge and innovation would have been shared and disseminated to various stakeholders; and 3. Inputs for policy, regulatory and institutional contexts would have been developed.

“This workshop is an important step in our journey to address one the most significant challenges for livelihoods of the poor – climate change,” said Vijay Mahajan, Founder and Chairman of BASIX, adding that “As one of the pioneers in designing adaptation and mitigation measures, including weather-index insurance, to help the poor cope with the risks of climate change, BASIX is now trying to build the field, jointly with the MIA and the Embassy of Switzerland.”

Over 50 participants spanning the fields of agro-meteorology, agriculture, livestock, fisheries, forestry, insurance and community development from India and abroad took stock of the need for urgent action to introduce microinsurance solutions to help the poor cope with the effects of climate change. Arvind Kumar, Joint Secretary, Financial Inclusion and Insurance, Ministry of Finance, Govt of India, attended the concluding session and assured high level attention to the project’s findings as they emerge.

The Micro Insurance Academy (MIA) is a not-for-profit organization providing structured technical assistance in microinsurance domain-knowledge to organizations that focus on low-income communities. For further information contact Devendra Tak at the Micro Insurance Academy on + 91 11 43799100 or devendra@mia.org.in

BASIX works in the fields of livelihood promotion and protection for poor communities.  CTRAN is its specialized consulting arm for climate change. For further information contact Ashok Singha at +91 9437067019 or ashoksingha@basixindia.com

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