-Blockchain Technology In Crop Insurance: A Case Study

This research project extensively explores the use of blockchain technology in the agricultural sector for crop-insurance targeted at smallholder farmers in Sub-Saharan Africa. This is done through a case study of Etherisc and their partnership with Acre Africa. It delves into the adaption of blockchain technology and the associated challenges and barriers. While, also identifying the key drivers and benefits of using blockchain technology for crop-insurance. The research project follows a qualitative research design with an exploratory approach. A case study was chosen as the research method. Primary data was collected through a semi-structured interview with Susanne Austin from Etherisc. While, secondary data was collected through document analysis from the company’s website, blogs, videos and white papers. This allowed data triangulation to enhance credibility. The findings show how blockchain-based crop-insurance enhances efficiency, transparency, traceability and reduces operational costs. While proven barriers include lack of trust, government regulations and affordability. Furthermore, this study contributes theoretically by addressing the academic literature on blockchain applications in the agricultural insurance, and practically by showing providers how they could benefit from adopting blockchain-based crop-insurance to improve trust, increase take up and reduce payout times.