Insurance must fit into the system of agricultural activities.

Since 2017, where it started its activities with about hundred pineapple producers from a group in the Zio prefecture, Lorica Assurance supports agribusiness groups and promoters in the field of agribusiness to find solutions for themselves and their employees.

"We believe that all value chains that are involved in the agricultural world must be covered by insurance products to be sure that all links in the chain can be productive for the development of agriculture in Togo," said Mr. Akwei.

Specialized in health micro insurance and agricultural micro insurance, this brokerage firm is primarily aimed at rural populations and workers in the informal sector to provide solutions that are adapted to their realities and also to their purchasing power.

As part of a partnership with an insurer, Lorica assisted MIFA (Risk Sharing Agricultural Finance Incentive Facility) program in 2018 in its pilot phase.

"We were able to enroll nearly 4,000 rice, maize and soybean producers in several areas of Togo that we covered in health and also with a drought insurance product for the pilot phase of MIFA," he told agridigitale.

Generally, agricultural insurance covers all the climatic risks namely, drought, flood, pests that attack crop production and also transhumance.

"In case of drought for example, we’ll take the meteorological stations' records and on that basis, we are going to see if the minimum threshold of rain necessary for the plant to be successful is reached. If this is not achieved, we will compensate up to 25, 50 or 100% depending on your subscription," said Akwei.

Aware that a cassava producer is more concerned about the flood while the problem of the maize producer is drought, he invites BARAC office, selected for the feasibility study for the establishment of insurance to the benefit of agricultural producers in Togo, to do substantive work to find sustainable solutions.

He hopes that the products will be financially accessible to producers and that this coverage can meet everyone's needs.

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