iFoodCare

- is a micro-insurance paying out in commodities and / or micro-sums
- will increase the wealth of extremely low-income families by paying for lost harvests
- will pay for food delivery in severe hunger crises
- is fully privately funded through insurance policies and direct micro-donations
- engages in social media campaigns to raise private donations through websites and apps
- is easy and quick to implement because other NGO's already established trust with low-income families and delivery channel as well as basic infra-structure has already been established
- is rapidly scalable throughout Asian and African countries as no property and few personnel is required
- similar projects exist in several countries including Bangladesh, India, Malawi, Mexico, Peru, China, Romania,... so, the first step is made, but the system lacks publicity, awareness and access to social online communities

Download the Business Plan Description under dropbox.com/s/qi0pggg7mcj0gyx/iFoodCare-Business%20Plan%20Draft.pdf

Help us to gain publicity and introduce iFoodCare worldwide! Within one year we could be implemented in 8 countries!

Positive Side-Effects:

+ Building up an insurance means building up savings, if you cancel the insurance, you will receive your insurance fund

+ The need to deliver commodities as insurance payout increases incentives to improve delivery infra-structure

+ The need to purchase crops and re-allocate them increases the trade of these commodities on the financial markets and makes them an interesting investment for foreign capital

+ Insurances can be bundled into securities and made into a financial tool, this way, investors feel more comfortable to fund low-income families

+ Low-income families benefit from the financial market without bearing a risk themselves: iFoodCare handles their funds, but they can cash them out whenever they want

+ As iFoodCare pays out in case of loss of crops, and other investors' return is negatively correlated to the loss, there will be an incentive to educate farmers in preventing loss of harvest

+ There is no moral hazard / adverse selection in this model because the data on weather is tamper proof

To request further information

1) comment below
2) download our business plan draft under dropbox.com/s/qi0pggg7mcj0gyx/iFoodCare-Business%20Plan%20Draft.pdf
3) send us an email: ifoodcare@gmail.com
4) look up the following links:

The impact of crop insurances: agecon.ucdavis.edu/research/seminars/files/vsmith-index-insurance.pdf

Insurance Malawi: gfdrr.org/gfdrr/sites/gfdrr.org/files/documents/DRFI_Malawi_WeatherInsurance_Jan11.pdf

Insurance Ethiopia: csis.org/event/weather-index-based-crop-insurance-smallholder-farmers-ethiopia-multi-agency-pilot-project

Insurance Bangladesh: trust.org/alertnet/news/bangladesh-to-trial-weather-index-based-crop-insurance/

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