Riwe, an Abuja-based insurtech company, has received funding and support from the United Nations Development Programme (UNDP), the Islamic Development Bank (IsDB), and the Islamic Solidarity Fund for Development (ISFD) to expand its climate insurance services for Nigerian smallholder farmers. The partnership backs the rollout of RAIN (Resilience through Affordable and Inclusive Weather Insurance), a programme aimed at linking farmers with climate protection tools, real-time weather data, and access to agricultural finance. Since 2022, Riwe has reached over 15,000 farmers across Nigeria. The company operates a digital identity system for farmers without formal financial records, using farm-level data, climate exposure, and insurance history to build individual profiles that support loan applications and financial eligibility. At the heart of Riwe's model is an intelligence layer that aggregates fragmented data from satellite imagery, field reports, and community experience centres to generate structured risk assessments, predictive yield models, and dynamic pricing tools. This system improves over time as more data from farmer interactions, weather events, and payouts are incorporated. Riwe uses satellite earth observation and automated smart contracts to deliver parametric insurance, which triggers automatic payouts when predefined climate conditions occur. The service is accessible via USSD on basic mobile phones and through a network of trained community agents. Under the RAIN programme, Riwe will expand across Nigerian farming communities, establishing community experience centres and collaborating with financial partners such as Leadway Assurance and Novus Microfinance Bank to provide insurance, agricultural input loans, and weather advisories. The company is among a select group of startups in the Nigerian Insurers Association (NIA) Innovation Lab, recognized for shaping the future of insurance in Nigeria. Riwe aims to reach 200,000 farmers nationwide by 2030. CEO Chigozirim Israel stated, "This is a direct reflection of years of consistent, focused work. Funding from global development institutions tells us the global development community sees what we see. And more than anything, it moves the needle closer to the future we are building towards, one where every farmer has the financial protection and tools, they need to weather whatever comes their way."
Riwe's claim to be building financial identities for farmers with no formal history relies on data it collects itself, creating a closed loop where the company becomes the sole validator of a farmer's creditworthiness. The partnership with UNDP and Islamic Development Bank elevates a private startup to a gatekeeper role in public-facing financial inclusion. If the platform becomes critical infrastructure, dependency on a single tech provider could limit alternatives for farmers and institutions. The goal to reach 200,000 farmers by 2030 suggests slow progress given the scale of need in Nigeria's agricultural sector.
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