![Page 1: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/1.jpg)
Index Based Livestock Insurance: Oromiya Insurance Company’s related products
Mitiku Abdissa
Workshop on Developing Index-Based Livestock Insurance to Reduce Vulnerability due to
Drought-related Livestock Deaths ILRI, Addis Ababa, Ethiopia
12 July 2010
![Page 2: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/2.jpg)
Oromia Insurance Company (S.C)
Establishment ------- 26 January 2009.
![Page 3: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/3.jpg)
Vision
To be a leading insurer
![Page 4: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/4.jpg)
MissionBuilding long-term beneficial relationship with its
stakeholders and other business partnersEmploying, developing and retaining highly
motivated professional team of employees that add value to the company and its customers
Building profitability and financial strength suitable to be a lead insurer
Practicing fair business ethics and values
![Page 5: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/5.jpg)
Core Values
Respect the public in general and the customer in particular
Believe in all dealings to be friendly and courteous, as well as fair and compassionate
A sense of urgency on any matters related to customers.
Customer-drivenBelieve in change and dynamism.Peruse proactive attitudeWe are against corruption, conflict of interest and
any forbidden conductCarry out duties and responsibilities in
transparent and accountable ways
![Page 6: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/6.jpg)
CapitalAuthorized Capital Birr---------- 200 million
Subscribed capital Birr -----------85 million
Paid up capital Birr ---------------30 million
Number of Shareholders ----------540
![Page 7: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/7.jpg)
Co-operative Unions who are Share holder founders of OIC
Unions : 34Primary Coop. : 1,665Members
Male : 1,170,696 Female : 97,850
Total : 1,268.546
![Page 8: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/8.jpg)
Share of unions‘ in oromia insurance
Subscriber share : Birr 14.4million Paid up Share : Birr 3.637million
Unions share of paid-up capital can establish an independent General Insurance Company
![Page 9: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/9.jpg)
Activities made so far
Union Forum in Adama, Jimma July 2009 – Seminars - Ambo, Woliso, Selalle Meki-
BatuSponsorships - Adama, Federation MetingUnions Day at Adama -Convincing community leaders and
government officials around the area.Preparing distribution channels and
intermediaries/partners around the project area.
![Page 10: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/10.jpg)
Stakeholders engagement
![Page 11: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/11.jpg)
![Page 12: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/12.jpg)
Branch Locations
OIC Ambo - Ambo Farmers Cooperation Union
OIC, Adama - East ShoaWoliso - South, Western Shashemene – SouthernHawassa - Pastoralist
![Page 13: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/13.jpg)
Communication with PartnersElders and Community Leaders in Gujii and BorenaDairy Farmers – Adaa and SelaleGovernment BodiesNon-Shareholder Unions engaged in LivestockNGO’s in Yabello Area Survey to update channels in Borena and Guji
ZoneLivestock Marketers Banks - Cooperative Bank of Oromia in Bulle Hora
and Oromia International Bank Yabello Branches- Banc assurance.
![Page 14: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/14.jpg)
![Page 15: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/15.jpg)
Communication ContinueCooperative Promotion BureauOromia Pastoralists Area Development
Commission
![Page 16: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/16.jpg)
Stakeholders engagement
![Page 17: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/17.jpg)
![Page 18: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/18.jpg)
The area of our work that related to IBLIWe are on the process of insuring livestock
and crops e.g Adea and Salele.
We have a network with pastoralist and related partners and made a week assessment around the Borena and Gujji Zone.
We have convinced community leaders and government organization about the livestock insurance
![Page 19: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/19.jpg)
Area of work - ContinuationWe have selected the best distribution
channels and intermediaries.
Our banks around Borena and Guji are the only banks closely working with pastoralists
Our company is partly owned by Government, so every gov’t structure will work with us with no cost and language barriers.
![Page 20: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/20.jpg)
Index Based Livestock Insurance may interact with our project in the following ways:
Experience sharingIndex facilitatingProviding materials and information for IBLI
![Page 21: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/21.jpg)
7. ChallengesConvincing pastoralist
Sustainability of the project
Ownership of the project for long-period of time
InfrastructureCommunicationCulture
![Page 22: Index Based Livestock Insurance Oromiya insurance company's related produnts](https://reader035.vdocuments.us/reader035/viewer/2022081413/5465488aaf7959045f8b5ef8/html5/thumbnails/22.jpg)
Thank you!