Efficacy of weather index insurance for mitigation of weather risks in agriculture

Abstract

Purpose The purpose of this paper is to review research on weather index insurance (WII) for mitigating the weather risk in agriculture and to identify research gaps in current available literature through integrative review. Design/methodology/approach This paper is based on the integrative review method as proposed by Whittemore and Knafl. QualSysts tool was adopted for assessing the quality appraisal of articles. Reporting followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. Findings Detailed critical analysis of content reveals that WII studies are growing and shifting from traditional to the newest themes. Efficacy of WII is significantly influenced by the impacts of climate change. This paper generates a conceptual framework by synthesizing the published literature on WII. Research limitations/implications This paper will be used to improve the WII practices and influence public policy. It is also beneficial in research by contributing to the systematic body of knowledge and useful for researchers to analyze the past and present status with future prospects of further studies on WII. Originality/value The paper is the original work of the author. To the best of authors’ knowledge, this is the first paper on integrative review on the efficacy of WII. An attempt has been made in the current paper to critically examine the studies of WII.

Modelling the enablers of work-family balance among working single mothers integrating expert-mining and TISM-MICMAC

“…The review of related studies based on current literature plays a substantial role in the identification of study gaps (Singh and Agrawal, 2019). In this segment, pertinent literature is extensively reviewed on WFB among working sole mothers through systematic literature review method (Singh, 2022).…”

Bundling Weather Index Insurance with Microfinance: Trekking the Long Road between Expectations and Reality – A Study on Sub-Saharan Africa

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Mapping the customer centric weather index insurance service design using quality function deployment

“…The WII sector has emerged in last two decades to mitigate the farmer's risk of crop losses, but its success and penetration in weather index based crop insurance markets is still limited (Mukherjee et al, 2021). Globally WII industry is facing the problem of less demand because index-insurance services fall short in meeting the customers' expectations (Singh and Agrawal, 2019). Moreover, entire WII industry facing the situation of unsustainable business due to flaws and faults in index-insurance service design (Shirsath et al, 2019).…”

“…, 2021). Globally WII industry is facing the problem of less demand because index-insurance services fall short in meeting the customers' expectations (Singh and Agrawal, 2019). Moreover, entire WII industry facing the situation of unsustainable business due to flaws and faults in index-insurance service design (Shirsath et al.…”