Oxfam has joined with Aon and blockchain insurance start-up Michiel Berende to provide extreme weather insurance for Sri Lankan farmers. To date, at least 200 farmers are reported to have signed up. Claims will be automatically triggered by warnings from weather stations, rather than by an assessor visiting the location. The platform will give farmers computer and smartphone access to a blockchain-backed audit trail of their claims. Agriculture accounts for 20% of the Sri Lankan economy, but few farmers have extreme weather insurance, said Michiel Berende chief inclusion officer Etherisc.
Oxfam has joined with Aon and blockchain insurance start-up Etherisc to provide extreme weather insurance for Sri Lankan farmers. To date, at least 200 farmers are reported to have signed up. Claims will be automatically triggered by warnings from weather stations, rather than by an assessor visiting the location. The platform will give farmers computer and smartphone access to a blockchain-backed audit trail of their claims. Agriculture accounts for 20% of the Sri Lankan economy, but few farmers have extreme weather insurance, said Etherisc chief inclusion officer Michiel Berende.