Pacifica, Paris-Dauphine University and Europlace Institute of Finance join forces to develop research into agricultural insurance
Pacifica, Crédit Agricole’s property/casualty subsidiary, has signed a two-year partnership agreement with Paris-Dauphine University and Europlace Institute of Finance (EIF) to promote scientific research into future insurance products and financial coverage for farmers.
With the changes to the Common Agricultural Policy and the gradual disappearance of France's national compensation fund for agricultural disasters, the agricultural sector is increasingly exposed to risk, such as climate-related disasters, volatile energy and agricultural prices and health risks. At the same time, agricultural risk coverage is gradually being transferred from the government to the personal insurance sector. As a result there is a growing need for insurance solutions that will enable agricultural professionals to carry on their business in all circumstances.
Pacifica, with its 20 per cent share of the farm insurance market, has therefore joined forces with Paris-Dauphine University and Europlace Institute of Finance in a bold research and corporate sponsorship programme. The aim is to advance knowledge in this area and, ultimately, to come up with solutions for addressing farmers' day-to-day concerns. The first avenues of research are due to be submitted this summer.
A tripartite partnership
Pacifica will bring its insurance expertise and contribute to the advancement of the project by developing an innovative quantitative, financial and insurance approach.
Paris-Dauphine will draw on its research potential to oversee the consistency and progress of the work at operational level, with two researchers specialised in insurance and quantitative techniques. The university is building on the research carried out by the Calyon-EDF Finance and Sustainable Development chair established in 2006.
Europlace Institute of Finance, organised as a state-approved research foundation, will ensure that the resulting research is disseminated to the entire industry.