IRRI, DA-PhilRice, and PCIC team up for innovative crop insurance for rice
The IRRI-PhilRice-PCIC tripartite partnership will bring innovative crop insurance products to improve the resilience of Filipino farmers to climatic risks.
MANILA, PHILIPPINES (19 October 2023) – The International Rice Research Institute (IRRI), the Philippine Rice Research Institute (DA-PhilRice), and the Philippine Crop Insurance Corporation (PCIC) are collaborating on the development of an area-based yield index insurance for rice based on satellite data. This will help improve Filipino farmers’ resilience to climatic risks.
The memorandum of agreement was signed during the 6th International Rice Congress on 19 October 2023 at the Philippine International Convention Center (PICC), Pasay City, Philippines.
This partnership builds upon an earlier collaboration between IRRI and PhilRice that developed and operationalized a satellite-based rice mapping and monitoring system called PRISM ( Philippine Rice Information System ). Operational since 2018, PRISM uses Synthetic Aperture Radar (SAR) satellite images and a smart detection system to map rice planting areas and planting dates. Using crop growth simulation modeling, it provides timely yield forecasts and end-of-season rice yields.
PRISM data will be used in designing and testing an Area-Based Yield (ARBY) index insurance for rice. ARBY is a type of crop insurance that provides coverage based on historical average yield of a specific geographic area, rather than individual farmer’s yields, to determine payouts in the event of crop losses.
“The fusion of satellite technology and advanced modeling is revolutionizing how we can insure rice crops. With timely insights into yield forecasts and end-of-season yields, satellite-based ARBY index insurance for rice can help simplify the much needed coverage for smallholder farmers, paving the way for a more resilient and sustainable future for agriculture,” said Dr. Ajay Kohli, Interim Director-General of IRRI.
The agreement seeks to help make crop insurance…