CelsiusPro Group and ECOM partner to provide parametric insurance solutions for Indonesian farmers
ZURICH, 16 JANUARY 2025
CelsiusPro Group, a provider of parametric insurance products for climate risks, has announced a partnership with ECOM Agroindustrial Corp Ltd. (ECOM), a leading soft commodity services group specialising in coffee, cocoa, and cotton, to design parametric insurance products to assist farmers in Indonesia vulnerable to climate event and natural catastrophe risks.
Supported by the University of Southern Queensland (UNISQ) in Australia and a grant provided by the Natural Disaster Fund’s Technical Assistance Facility, the focus of the partnership is to help build climate resilience for coffee farmers in the region, where changing rainfall patterns and other climate-related hazards are having a significant impact on yields and farmer incomes.
The initiative is also supported by the Swiss Capacity Building Facility (SCBF) through technical assistance grant funding, enabling the co-development and piloting of inclusive parametric insurance solutions for smallholder coffee farmers. SCBF’s support focuses on strengthening product design and capacity building to demonstrate scalable models for climate resilience.
“The project illustrates how innovative partnerships can deliver climate-smart insurance solutions with the potential to scale sustainably. This initiative turns climate risk into inclusive insurance solutions that build real resilience for underserved communities,” said Sitara Merchant-Carter, CEO of SCBF.
“Our partnership with ECOM will help Indonesian farmers manage their climate risks and income volatility,” said Mark Rueegg, Chief Executive of CelsiusPro Group. “The region is seeing increased frequency and severity of climate-related events, which makes accessible and affordable insurance products all the more important.”
The partnership involves the co-design, refinement and distribution of parametric insurance products that implement a “Consumer Pay” approach and a strong capacity-building component to train and engage local stakeholders, including farmers, agronomists and agribusinesses, about insurance solutions and climate risk management.
Leveraging ECOM’s coffee supply chain, a “Consumer Pay” approach means the costs associated with climate insurance, such as insurance premiums and administrative fees, are distributed to those consumers who purchase coffee sourced from certified, climate-insured farms. These products will build on coffee certifications already in the market to help strengthen the resilience of the coffee supply chain, with minimal additional contributions per consumer.
“We are delighted to be working with CelsiusPro Group on this project,” said Laurent Bossolasco, Sustainability Manager at ECOM. “The parametric insurance products we are designing, alongside the wider educational support, are integral in fully strengthening Indonesian farmers’ climate awareness and financial resilience. These actions really will make a difference in the long-term.”
Parametric insurance is a non-traditional product that uses predefined, measurable parameters to assess the magnitude of an event. Once these ‘triggers’ are met, payments are made streamlining the claims and the recovery processes for insureds.
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About CelsiusPro Group
CelsiusPro Group is a technology-driven underwriter that provides climate and natural catastrophe insurance using satellite data to automatically pay out when natural catastrophes and extreme weather hits. Our platform solutions integrate climate data and risk modelling which enables insurance companies and brokers to distribute and manage tailored parametric insurance.
Through our consulting services, we provide end-to-end insights via climate risk assessments, disaster risk financing strategies, as well as structuring and risk modelling for insurance initiatives.
CelsiusPro Group advances parametric risk transfer from the fringes to the forefront in climate and natural catastrophe protection.
Learn more: https://www.celsiuspro.com/
About The Natural Disaster Fund (NDF)
CelsiusPro Group’s work focuses strongly on supporting vulnerable communities in the Global South, where climate-related disasters are increasing in frequency and severity. This involves industry partnerships with leading global insurers such as Hannover Re and Canopius as well as public-private partnerships through the Natural Disaster Fund (NDF).
The NDF is managed by Global Parametrics - a CelsiusPro subsidiary - and is capitalized by commitments from the UK government’s Foreign, Commonwealth and Development Office and Germany’s development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Their public investment is blended with matching risk capacity from Hannover Re.
About ECOM Agroindustrial Corp Ltd.
ECOM is a world-leading soft commodity services group specialising in coffee, cocoa, and cotton.
We employ more than a thousand agronomists and field staff worldwide, running innovative on-the-ground operations and sustainability programmes to help our customers and farming communities worldwide.
Our global presence, unparalleled experience, and strong, trusted relationships allow us to create a valuable and profitable environment for our suppliers, customers, shareholders, and employees.
Learn more at: www.ecomtrading.com
About Swiss Capacity Building Facility (SCBF)
The Swiss Capacity Building Facility (SCBF) is a unique membership-based organisation of public and private entities dedicated to advancing responsible financial inclusion across emerging markets. By mobilising and blending resources from both its public and private members, SCBF enables financial service providers, impact-driven organisations, and social enterprises to test, develop and scale client-centric financial solutions.
Through catalytic funding - including technical assistance, repayable grants, and impact-linked finance - SCBF supports innovations that improve the lives of low-income households, smallholder farmers, and MSMEs, with a strong focus on women and youth, particularly in rural communities. Since its inception, SCBF has funded over 230 projects, including more than 40 initiatives specifically addressing climate change resilience and adaptation.
SCBF’s platform approach facilitates targeted funding, strategic partnerships, and knowledge sharing to build more inclusive, equitable, and sustainable financial systems. Its vision is to improve livelihoods and help break the cycle of poverty for those most excluded from financial systems.
Learn more at: www.scbf.ch
Media contact:
CelsiusPro Group - Russell Hergert