Calibration of rainfall in weather index - based micro - insurance for agriculture
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This project presents the calibration of rainfall in weather index-based micro-insurance for agriculture in Kenya. It simply seeks to determine if rainfall alone is a significant factor in order to use it as an index that will determine indemnity payments when an event arises. Using linear regression the study found the relationship between expected yield and rainfall, thereafter a payment index was calibrated. The results showed that rainfall is a significant factor in determining the yield of a crop in Kenya and would be a very useful product in micro-insurance for agriculture in Kenya. It is recommended that this product should be administered in different geographic framing regions in Kenya having tailor made the index to the specific region's specifications.