Innovation is at the heart of Blue Marble’s values. The consortium has committed to launching ten ventures in ten years, each designed to address societal problems such as food insecurity and financial inclusion through insurance protection. Ventures include four stages: ideation, acceleration, piloting, and scaling. Insights gained from these ventures will be used to create scalable and sustainable business models for the future.
The pilot stage of Blue Marble’s first venture launched successfully in November 2016. The program provides drought protection to 335 smallholder maize farmers in Zimbabwe, and the consortium hopes to expand coverage to 40,000 farmers in Zimbabwe next year. Eventually, Blue Marble hopes to provide similar drought protection across Africa. CEO Joan Lamm Tennant described the collaboration between the consortium companies as the perfect marriage: "Technical expertise across the eight consortium companies was leveraged to create the agricultural microinsurance product." In addition to sharing expertise, the consortium companies also share the risks of the venture, "There is also a lot of political risk associated with doing business in Zimbabwe which any one company would have been hesitant to assume," Lamm-Tennant added.