Livestock Insurance Scheme Wins Innovation Award

KENYA - A novel livestock insurance scheme for poor pastoral herders in Kenya’s Marsabit District, initiated by the International Livestock Research Institute (ILRI) with private sector and other partners, has won the inaugural Vision 2030 ICT Innovation Award.
calendar icon 26 April 2011
clock icon 2 minute read

‘Eleven companies received a V2030 ICT Innovation Award at a ceremony held on 20 April 2011 in Diani as part of the Kenya ICT Board’s Connected Kenya Summit. The Kenya ICT Board and the Kenya Vision 2030 Delivery Secretariat invited companies that have developed solutions that drive economic growth and social development as outlined in Kenya’s Vision 2030 to participate in the inaugural Vision 2030 ICT Innovation Awards. The Award is proudly co-sponsored by Accenture Development Partnerships (ADP).

‘Over 170 companies participated in the online process. All applications were received on an online platform set up by the Kenya ICT Board that allowed applicants to create an account and fill out their application over time. Of the companies that participated in the Call for Applications, 82 successfully completed the process.

‘The Kenya ICT Board convened a team of seven independent judges representing the ICT private sector, academia, public sector and civil society. The judges began their work on April 13 and reviewed each complete proposal against the criteria outlined in the call for applications. To ensure integrity in the process, Deloitte Consulting are auditing the review process.

‘The winners each get a commemorative trophy, certificate and $1,000 prize money from Accenture. The overall best innovation award was awarded to International Livestock Research Institute for their mobile-ICT based livestock insurance solution. ILRI received an additional $ 5,000 as their award.

‘Index-based livestock insurance (IBLI) is a promising and exciting innovation in insurance design that allows the risk-management benefits of insurance to be made available to poor and remote clients. The IBLI product being piloted in Marsabit District aims to provide compensation to insured pastoralists in the event of livestock losses due to severe forage scarcity. Incorporating remotely-sensed vegetation data in its design, delivered via mobile ICT-based transactions platforms, and with experimental extension methods used to educate the remote pastoral herders, the IBLI product boasts many firsts in product development.’

TheCattleSite News Desk

© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.