Luxembourg-based climate insurtech IBISA Network has raised a €2.8 mn funding led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside the Asian Development Bank Ventures (ADBV) and existing investors including Ankur Capital.
The investment set to go towards scaling its parametric insurance solutions for weather-related risks in Asia and Africa. The funding will enable IBISA to create more products and expand into emerging markets.
This strategic investment is intended to enhance IBISA’s capacity to deliver accessible parametric insurance products.
The Food and Agriculture Organisation of the United Nations estimates global agricultural losses from extreme weather events at $10 bn to $15 bn annually.
IBISA offers simple and efficient parametric insurance products to help those affected by the climate crisis.
Using satellite and actuarial technologies, IBISA designs and operates insurance products that promote financial resilience in vulnerable regions.
IBISA has focused on India since establishing a local presence there in 2023 and offers various climate coverages, including agricultural insurance, typhoon insurance, and loan protection for financial institutions. IBISA developed heat stress insurance for dairy farmers in India.
Since the beginning at IBISA, we have functioned with great agility as product innovators and bringing these products to market efficiently. This investment enhances ARAF’s portfolio, and we are eager to support IBISA’s regional expansion
Maria Mateo Iborra, CEO of IBISA
“Now, we are entering the industrialisation phase of our journey. With the backing of this fundraising effort and the support of both existing and new investors, our goal is to amplify our product offerings, expand within our current markets, and explore new markets”, Maria Mateo, CEO of IBISA says.
African farmers face severe impacts from climate change. Low-cost parametric insurance products are essential for these farmers to manage climate shocks.
IBISA’s advanced technology aids in developing these affordable insurance solutions.
IBISA’s technology and business model specifically enable it to scale access to a broad range of affordable parametric insurance products across emerging markets
Nijhad Jamal, Managing Partner of Equator
IBISA’s approach leverages satellite data analytics and advanced risk modeling to make parametric insurance accessible and affordable for climate-vulnerable communities.
In Asia and the Pacific, where increasingly frequent climate events often go uninsured, there is a growing need for platforms like IBISA that deliver fit-for-purpose solutions designed to seamlessly integrate with distribution channels.
“It’s been an exciting journey working closely with IBISA over the last two years, as they leveraged their deep technical expertise in parametric insurance to scale their offerings and launch innovative new products to insure vulnerable communities and small businesses against adverse climate events.”, Ritu Verma, Managing Partner at Ankur Capital, said.