WorldCover is a peer-to-peer lending platform providing insurance to low-income farmers worldwide. Natural disasters affect billions of people who lack insurance, causing under investment in productive activities and business. WorldCover’s insurance platform protects farmers from natural disasters. Their products are tailored to poor smallholders in regions vulnerable to drought.

Company Overview

CEO: Christopher Sheehan
Founded: 2015
Market: Ghana / US
Product: Peer to peer insurance platform and index insurance
Sponsor: Omidyar Network

Over the next six months, WorldCover will receive $25,000 USD in grant capital and receive the mentoring of its Catalyst Fund sponsor, Omidyar Network as part of the first cohort. The company will also work with BFA to identify specific advisory engagements towards strategic milestones and a growth trajectory.

THE Problem and Solution

Farmers across the globe face the challenge of accessing affordable insurance to protect against natural disasters. WorldCover addresses this problem by creating an investment marketplace offering diversified returns to investors and direct social impact by funding insurance against weather risks. WorldCover offers a simple, affordable product customized to farmers’ needs and encourages investors to “sell” insurance and earn a return. WorldCover uses remote sensing to monitor weather risks and trigger payments.

The Innovation

  • WorldCover connects farmers and investors through a peer-to-peer investment platform. The investors are able to “sell insurance”, earn a return and also have a social impact. Investors can earn a portion of premiums paid by the customers and their funds are used for payouts if a drought occurs.
  • Weather is remotely monitored so that insurance payouts can be triggered automatically, eliminating fraud and costly claims. The transparent risk model increases farmers’ trust in the product.
  • WorldCover leverages partnerships to acquire customers on both ends: institutions, online marketing and financial advisors for investors and channel partners, input suppliers and mobile operators to acquire farmers.

The Value Proposition

  • An affordable and simple product for farmers to insure against weather risks.
  • Investors gain diversified returns while making a social impact.
  • The transparent risk model limits downside risk and provides returns.


We see a strong fit with WorldCover's service offering and the Catalyst Fund's objective to accelerate early-stage inclusive fintech innovators, and we think WorldCover will provide a rich learning opportunity about:

  • 10x Better Value Proposition: How can WorldCover product boost engagement and leverage digital channels (mobile) to be more effective and cost-efficient?
  • Limiting Factors: How can WorldCover engender sufficient trust and tap social networks/mental habits to create more value to consumers?

Awards / Recognition