Global Parametrics and One Acre Fund deliver parametric crop cover for Nigerian farmers

Global Parametrics, part of the CelsiusPro Group, has partnered with One Acre Fund to provide financial protection for smallholder farmers in Nigeria against crop losses caused by drought and end-of-season excess moisture, through the Natural Disaster Fund (NDF).

The cover is structured using Global Parametrics’ Water Balance Index (WBI), which leverages a dynamic trigger feature to capture transitions across the critical growth phases of the main maize crop.

The WBI is a climatological index that measures water availability for crops, using consistent, globally modelled weather data from independent third-party sources. If the index breaches a specified threshold, payouts are triggered automatically—eliminating the need for proof of loss or lengthy damage assessments.

The program has expanded significantly, nearly doubling in both geographic reach and coverage limit, now protecting close to $8 million in production credits.

This season’s contract also integrates on-the-ground monitoring by One Acre Fund, allowing for a selectable start date that better aligns the index with planting progression to help reduce basis risk.

Risk capacity is provided by the Natural Disaster Fund (NDF), managed by the Global Parametrics team.

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