|
2009-10 |
Weather Risk Management Services Ltd (WRL) has been implementing a project
funded by International Labour Organization in West Bengal and Assam. Project
would showcase how Comprehensive Agriculture Risk Management Program would help
small farmers minimize their agriculture risks and deal with financial shocks posed
by Weather Risks.
|
|
|
WRL has structured a program to offer free weather insurance for disease related
risks of farmers in Punjab. This program was sponsored by Dupont India and
cover was available with every Dupont’s fungicide package for Potato.
|
|
|
WRL has been provided sponsored weather information, forecast and insurance services
to contract farmers of SAFAL (An enterprise of National Dairy Development Board).
|
|
|
|
|
2008-09 |
WRL has structured a program to offer free insurance for drought during germination
stage of paddy. The program was implemented in Jharkhand state and was sponsored
by Pioneer Seeds.
|
|
|
Working with Grameen Suvidha Kendra Initiative of MCX (Largest Commodity Exchange
in India), Indian Postal Services, & NABARD (Apex Agriculture Bank)
to popularize the concept of weather information and insurance in rural regions of the country. Apart from capacity building, we are structuring & delivering
weather insurance contract and providing weather information and forecast services
to the farmers.
|
|
|
WRL has been implementing Weather/Agri-insurance programs for Pepsico –Fritolays
in all contract farming locations of the company. Under this contractee farmers
of Fritolays were offered weather insurance for Potato Crop. Fritolays incentivized
the farmers who took weather insurance by offering higher buying price for the produce
sold to Fritolays.
|
|
|
WRL did a study of Index Based Agriculture Insurance market in India for IFAD.
Report required understanding and analyzing products, delivery mechanism and outreach
methodologies of various index insurance providers in India.
|
|
|
|
|
2007-08 |
WRL undertook a project funded by Ford Foundation for expanding weather insurance
in dryland and drought prone districts of the country. WRL launched services in
the states of Punjab, Rajasthan, Maharashta, Andhra Pradesh (AP) and Tamil Nadu
(TN). It has installed over 100 self- manufactured weather stations in important
blocks of fifteen districts and has covered over 70,000 farmers under the project
so far. The results of the project have been very encouraging.
|
|
|
WRL since 2007 is implementing a joint nationwide weather/agriculture Insurance
market making and strategic development exercise along with ICICI Lombard General
Insurance Co. Ltd. As part of this WRL embarked on an exercise to remove
technological, policy level and reinsurance capacity bottlenecks to promote growth
of alternate risk management products in the country. WRL developed low cost weather
stations, unmanned aerial vehicles, and automated yield measurement instruments
to facilitate claim settlement. It developed decision support systems for farmers.
WRL also pursued the Ministry of Agriculture for subsidy support on Weather Insurance
Products. The Ministry kindly consented in 2007 and granted support to Weather Insurance
Products.
|
|
|
|
|
2006-07 |
WRL along with BASICS advised the United Nations Development Programme (UNDP)
on Micro-Insurance (including Agriculture Insurance) framework for India. The report
is now referred widely and has become a basis for extensive debate and policy advocacy.
The Insurance Regulatory and Development Authority (IRDA) framed guidelines for
Micro-Insurance in 2005. (Contact Person – Vijay Mahajan Chairman – Basics - 9866383029)
|
|
|
WRL started advising IFFCO Tokio General Insurance Co. Ltd (ITGI) on structuring
weather insurance products. Most of ITGI’s weather insurance program since 2007
are structured and designed by WRL.
|
|
|
|
|
2005-06 |
WRL advised Agriculture Insurance Company (AIC) on product structuring and
Market development for alternate risk management products (such as Weather Insurance).
As part of this exercise, AIC launched weather based Coffee Insurance products in Karnataka
and Rainfall Insurance products all across North India in 2005. The work
done as part of the advisory formed basis of further product development and market
expansion by AIC. WRL also facilitated build up of institutional capacity
within AIC for Weather Insurance.
|
|
|
Launched innovative free weather insurance scheme through HDFC Chubb and Mahyco Seeds
Limited covering customer farmers of Mahyco’s BT Cotton Seed in 3 districts of Maharashtra in Kharif-2005. The product was first such kind in India.
|
|
|
|
|
2004-05 |
WRL as part of a consortium led by PriceWaterhouse Coopers (PWC) advised
the Asian Development Bank and NABARD on reforming Agriculture Risk Management
practices in the country. The consortium presented a systematic plan for agriculture
risk management reforms after conducting on-ground survey and extensive literature
review. The plan was forwarded by NABARD to its subsidiary Agriculture Insurance
Company (AIC).The plan went on to become a basis of extensive debate on reforms
required in Agriculture Insurance. |
