Page 48 - The Insurance Times August 2025
P. 48
A National Priority: Food
Security & Resilience
Cambodia exported over 12 million
tonnes of farm products in 2024, valued
at US$5.3 billion. Yet, despite this out-
ward success, internal food systems re-
main fragile. The UN FAO reports that
45% of Cambodians experience moderate
Pic : Various stage of vegetables growth or severe food insecurity, underscoring the urgent need to
protect food production at its source-especially among cli-
This pilot has proven that parametric agriculture insurance mate-vulnerable vegetable farmers.
can help offset such drought-induced costs by providing
timely payouts linked to rainfall deficits-offering farmers a Conclusion
cushion to manage unexpected input costs like irrigation.
Chamroeun's weather-index insurance pilot, developed with
The pilot has not only demonstrated the effectiveness of support from the ILO's Social Finance Programme during a
index insurance but also strengthened Chamroeun's institu- period of severe drought, demonstrates the power of inclu-
tional capacity and built trust within rural communities. With sive, climate-resilient financial tools for smallholder farmers
technical leadership from the ILO's Social Finance in Cambodia. By providing timely payouts based on objec-
Programme and foundational support from the Grameen tive weather data, the product helps protect rural liveli-
Crédit Agricole Foundation, the initiative stands as a model hoods, encourages investment in higher-value farming, and
for scaling inclusive, climate-resilient microinsurance in Cam- builds long-term resilience. Technical support, strong part-
bodia. Through investments in climate risk modelling, client nerships, and an enabling policy environment, Cambodia has
literacy, digital distribution, and local engagement, the the potential to become a regional leader in scaling innova-
programme is laying the foundation for a sustainable and tive microinsurance solutions that help farmers not just sur-
scalable inclusive insurance ecosystem. vive, but thrive in the face of climate uncertainty.
Shriram Life Insurance Partners with ESAF Small Finance Bank to
Serve Underserved Markets
Shriram Life Insurance Company (SLIC) has partnered with ESAF Small Finance Bank to expand the reach of life insur-
ance products to the underserved segments across India. As part of the partnership, ESAF Bank will act as a corpo-
rate agent for Shriram Life, distributing its insurance offerings through ESAFs branch network. The partnership fo-
cuses on reaching first-time insurance buyers, low-income families, and rural households.
ESAF Small Finance Bank received its banking licence from the Reserve Bank of India in November 2016 and started
operations on March 10, 2017. As of June 30, 2025, it operates 788 branches, 713 ATMs, and 1,095 customer service
centres across 24 states and two Union Territories, serving a customer base of over 5.6 million with socially respon-
sible banking solutions.
At Shriram Life, our mission has always been to serve the underserved by making insurance simple, affordable, and
truly within reach. We believe protection should not be a privilege, but a basic financial right for every Indian house-
holdno matter where they live or what they earn. Thats why this partnership matters. With ESAFs strong local
presence and our shared commitment, together we can help fulfill the vision of Insurance for All, said Casparus J.H.
Kromhout, MD and CEO, Shriram Life Insurance.
This partnership strengthens our mission of serving the underserved by providing essential insurance solutions that
promote financial security and resilience. Together, were committed to building a more inclusive and empowered
future for our communities, said K. Paul Thomas, MD and CEO, ESAF Small Finance Bank.
This partnership supports both companies efforts to promote financial inclusion by offering simple, relevant, and
accessible protection to those who need it most.
The Insurance Times August 2025 43
