Demand for crop insurance to manage climate risks: A systematic literature review and bibliometric analysis

The agricultural sector, pivotal in sustaining a substantial portion of the global workforce, is increasingly vulnerable to the impacts of climate change. Crop insurance emerges as a vital tool for mitigating these adverse effects. This article aims to enhance understanding of the dynamics surrounding the demand for crop insurance, address existing challenges, and explore future research avenues in climate change adaptation strategies. Employing a systematic literature review and bibliometric analysis, we identified 187 relevant studies on crop insurance demand. These studies were meticulously analyzed to uncover the domain's patterns, challenges, and opportunities. Our findings highlight a significant concentration of research originating from the United States, accompanied by a notable market incompleteness for crop insurance in developing countries. The analysis also reveals a persistently low demand for crop insurance, characterized by spatial and temporal variability. Recent trends in research indicate a growing emphasis on behavioral aspects influencing crop insurance demand. Nevertheless, the exploration of behavioral biases and risk factors driving adoption in developing nations remains underexplored. The insights from this study emphasize the need for targeted policy interventions. Policymakers are urged to address the unique market dynamics of crop insurance in developing countries and enhance awareness and understanding, particularly in regions with limited adoption. Such strategies are crucial for strengthening the agricultural sector's resilience against climate change.