Design a Crop Insurance Product a Smallholder Farmer Can Afford and Understand

Drought, flooding, and pest infestation destroy crops and livelihoods across Nigeria every season. Agricultural insurance products exist on paper. Smallholder farmers — who need them most — do not buy them: premiums are too high, claims processes are too complex, and trust is near zero. Your challenge is to design a crop insurance product for smallholder farmers in one Nigerian state. It must be priced under ₦5,000 per season, have a claims process that takes under 14 days, use index-based or satellite triggers rather than individual assessments, and be distributable through an existing channel farmers already trust. Submit: product design, premium and payout structure, triggering mechanism, distribution channel, claims process, and a financial model showing viability at 1,000 and 10,000 policyholders. Judging criteria: 40% affordability and accessibility, 30% financial viability, 20% claims speed and simplicity, 10% trust design.