Aug 14, 2024
Global Collaboration for Local Impact: How LM Re, Sprout, and Britam are Supporting Kenyan Coffee Growers Against Drought
Liberty Mutual Reinsurance (LM Re) has announced a partnership with Insurtech firm Sprout, Inc and Kenyan financial services company Britam to introduce a new parametric insurance product aimed at protecting Kenyan coffee growers from financial losses caused by drought. This new product, developed through collaboration at the Lloyd’s Lab Launchpad Pitch, is designed to provide swift payouts…
#agricultural insurance#Britam#climate change adaptation#Climate resilience#drought protection#economic stability.#financial inclusion#global coffee buyers#insurance gap#Kenyan agriculture#Kenyan coffee growers#Liberty Mutual Reinsurance#machine learning#Parametric insurance#real-time advisory services#satellite data#Sprout Inc#sustainable farming#technology-driven insurance#weather-triggered payouts