Bridging Theory and Practice in Multi-tiered Agricultural Insurance:Insights from Weather Index Insurance Innovation
The development of multi-tiered agricultural insurance requires product innovation based on both theoretical feasibility and practical validation. Using weather index insurance as an example,this study chal-lenges the traditional view that it inherently solves adverse selection problems caused by information asym-metry. Due to limited pilot scope and duration,existing arguments lack substantial empirical support. This paper combines theoretical analysis with real-world scenarios,employing a longitudinal single-case study to empirically test the prevailing theoretical perspective that"weather index insurance can mitigate adverse se-lection". This research supplements important preconditions for this theory ' s validity. The findings reveal that weather index insurance still faces adverse selection issues due to its inability to fundamentally eliminate individual risk characteristics. Simultaneously,this paper identifies that the alignment between meteorological indicator measurement precision and product design sophistication is a crucial precondition for weather index insurance to alleviate adverse selection problems. Misalignment of these factors can further intensify differences in individual risk characteristics,amplify the disparity between individual risk profiles and regional average risk levels,and exacerbate adverse selection issues,potentially leading to the unsus-tainability of weather index insurance. By advancing the synergistic optimization of agricultural insurance product innovation theory and practical effectiveness,this study provides important insights for developing multi-tiered agricultural insurance systems.
Multi-tiered Agricultural InsuranceWeather Index InsuranceAdverse SelectionLongitudinal Case Study
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