From September 3–5, 2025, IFC, in partnership with ACRE Africa, delivered training on index insurance to Land Bank Insurance Company (LBIC) in Johannesburg. The training focused on strengthening technical capacity in product design, underwriting, monitoring, and claims processes for index-based agricultural insurance, with a special emphasis on solutions for both crop and livestock farmers.

The training follows the launch of LBIC’s new Area-Yield Index Insurance, aimed at addressing climatic risks such as droughts and floods. This new offering complements LBIC’s Pasture Drought Index Insurance, which provides coverage to livestock farmers against grazing losses caused by drought. Together, the two products represent a comprehensive approach to agricultural risk management and are a step forward in strengthening the resilience of farmers in South Africa.

The training included sessions on weather and yield index insurance design, loss computation, trigger validation, crop-cutting experiments, value chain integration, and international case studies. These sessions helped build LBIC’s technical capacity to deliver climate-smart insurance solutions that are accessible, affordable, and tailored to farmers’ needs.

These efforts are part of IFC’s Africa Inclusive Insurance Program, supported by the World Bank Group Global Inclusive Insurance Facility (GIIF), Germany’s Federal Ministry for Economic Cooperation and Development, and the Dutch Ministry of Foreign Affairs.

Through this training, IFC is building the capacity of insurers, government, and farmers in South Africa to strengthen climate resilience, safeguard livelihoods, and enhance food security.