Expectations from the Insurance Industry

1. Opportunities in the New Pradhan Mantri Fasal
Bima Yojana (PMFBY) Agricultural Insurance
Program
Expectations from the Insurance Industry
Alok Shukla
Bharti AXA General Insurance Company

2. Agenda
Data
Transparency
Technology
Other Aspects

3. Data
Insurance is a business of risk : In Crop Insurance Risk assessment is
done based on Historical data
Accuracy of risk assessment depends on Accuracy of Data
Granularity of Data
Availability of data beyond recent 10 years

4. Transparency
Declaration of a calamity – Pre-sowing, post-harvest
Crop Cutting Experiments
Real time availability of yield/ claim data

5. Technology
Technology to augment/ replace manual processes
CCE scheduling, yield assessment, Sown area estimation
Real time data relay and claim estimation
Can we replace CCE using technology?
Online portals for enrolment, monitoring and claim settlement

6. Other Aspects
Tendering Timelines & Process
Implementation Timelines
Multi season/ year allocation
Training

7. THANK YOU