Nespresso and Blue Marble Microinsurance partner to launch pilot crop insurance program for smallholder coffee farmers in Colombia
May. 26, 2017
Smallholder coffee farmers face significant risks. Their livelihoods depend on coffee crops, which are highly vulnerable to climate change. The coffee and insurance markets do not always provide these farmers with the necessary risk transfer mechanisms for their long-term security. Nespresso, which works with over 70,000 coffee farmers around the world, and Blue Marble have partnered to address this issue, starting with a pilot crop insurance program for smallholder coffee farmers in Colombia. The objective of this program is to enhance farmers' welfare and address supply chain risk, incentivizing investment and prosperity in the coffee growing regions. Nespresso and Blue Marble hope to encourage other players to participate in this program.
"I am delighted that Blue Marble is partnering with Nespresso," said Joan Lamm-Tennant, Chief Executive Officer of Blue Marble. "Together, we are driving collaborative innovation across industry sectors, bundling insurance into the existing value chain of the underserved. I am grateful for the opportunity to learn from Nespresso given their deep understanding of the coffee farmers' needs and their successful track record in creating shared value."
"Nespresso is committed to improving the lives of farmers who work with us to source the highest-quality, sustainable coffee in the world," said Guillaume Le Cunff, President of Nespresso USA. "Today, we are pleased to announce our partnership with Blue Marble, an organization equally committed to implementing innovative solutions that aim to mitigate risk and create value for coffee farmers."
ABOUT NESTLÉ NESPRESSO SA
Nestlé Nespresso SA is the pioneer and reference for highest-quality portioned coffee. Headquartered in Lausanne, Switzerland, Nespresso operates in 64 countries and has more than 12,000 employees. In 2015, it operated a global retail network of over 450 exclusive boutiques. For more information, visit the Nespresso corporate website: www.nestle-nespresso.com.
ABOUT BLUE MARBLE MICROINSURANCE
Blue Marble Microinsurance is a consortium of American International Group, Inc., Aspen Insurance Holdings Limited, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Old Mutual Emerging Markets Limited, Transatlantic Holdings Inc., XL Insurance (UK) Holdings Limited, and Zurich Insurance Company Ltd.
Blue Marble aims to provide socially impactful, commercially viable insurance protection to the underserved. Blue Marble develops microinsurance ventures that address societal problems, including food security, financial inclusion and the advancement of microentrepreneurs. For more information, visit the Blue Marble website: www.bluemarblemicro.com.