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Crop Insurance Services

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  • 1. 1C R O PI N S U R A N C ES E R V I C E SS O N U A G R A W A LM A N A G I N G D I R E C T O [email protected] - r isk.comS E P T E M B E R 2 0 1 4

2. VISION WHAT WE DO CLIENTS IMPACT PROPOSALTo provide all in the world security against climate change asThe worlds No. 1 climate risk managementcompany using data, technology and innovationto transform risk managementFounded2004HeadquartersIndiaTeam101 PeopleFootprintPan India & GlobalAsiaPhilippinesCambodiaBangladeshSri LankaAfricaTanzaniaRwandaZambiaMozambiqueExisting PresenceBuilding Presence 3. VISION WHAT WE DO CLIENTS IMPACT PROPOSALWe are a global Risk Management company deliveringinnovative products and services to large enterprises as wellas farmers in the remotest of villages worldwide.Founded withICICI Lombard asthe first clientStabilizing pan-India businessSIDBI invests forworking capitalExport of Products &Services to Africa &ASEAN2005 2007 2009 2011 20132004 2006 2008 2010 2012SIDBI Seed FundIncubation at IITKanpurFord FoundationgrantConvinced GoI to subsidizeweather insurance with Rs.1000 Cr.AWS Grid~ 100 StationsFirst Internationalforay in Tanzania andBangladeshReady forIndia and theWorldData Services &AnalyticsSmart Devices &TechnologyWeather1Insurance 2 3 India Global Agri Information Systems Weather Forecasting Remote Sensing Automated Weather Stations Vehicle Tracking Systems Energy Efficiency Solutions 4. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL4Automatic WeatherStationTemperatureSensorSolar RadiationSeasonal Forecastand AnomaliesWeather Services 5. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL5Sample Forecast7 Days ahead forecast for every 15 minutes interval, updated every 6 hours. 6. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL6Weather Insurance Analytical PlatformClick For Video Demo 7. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL7Crop SurveillanceRemote Sensing Arial SurveysCloud Sourcing 8. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL8Agriculture Information SystemGet Mandi PricesGet Temperature DataGet Satellite DataGet NDVI DataGet ForecastGet InsuranceMonsoon OutlookLocationCommodityUnitPriceMax TemperatureMin TemperatureData DateRainYearMonthMax TempMin TempRainHumidityWind SpeedWind DirectionProductLocationSum Insured Get PremiumMonsoonOutlook by Dr.Kanti PrasadClick to View Video 9. VISION WHAT WE DO CLIENTS IMPACT PROPOSAL 10. VISION WHAT WE DO CLIENTS IMPACT PROPOSALBusinessCaseCase StudyWhat we did ImpactInnovation:SowingFailureInsuranceLaunched innovative sowing failureweather insurance which was offered freeof cost along with the Seed packet.Premium for the insurance product waspaid by Mahyco - Monsanto Seeds andprogram was insured by HDFC ChubbGeneral Ins. Co. Ltd. The product was firstsuch kind in India. Farmers were also givenadvise on when to sow seeds by our panelof weather forecasters. We designed avery effective marketing campaign usingradio and newspapers. This insurance hasbecome a regular marketing feature forseed and input providers .Helps Inputs providersto Increase sales ofnew varieties. Farmersfind thecomprehensive riskmanagement veryuseful 11. VISION WHAT WE DO CLIENTS IMPACT PROPOSALCase StudyBusiness Case What we did ImpactInnovation:Cloud CoverBayer Bio Science was facing a risk ofloss of its seed crop on account ofcloudy conditions during pollination.Due to lack of historical data for cloudcoverage, insurance companies werenot able to design a suitable productto cover the possible losses of Bayer.We designed a cover correlatingrainfall of all weather stations within50 kms radius of the cropped locationto cover the risk of cloud cover. Thecover was successfully tested insample of 200 acres. Bayer has liked the proofof concept and workingon a product launch 12. VISION WHAT WE DO CLIENTS IMPACT PROPOSALBusinessCaseWhat we did ImpactComprehensiveRisk ManagementServicesWRL started CARM services in India in2009 with support from Ford foundationand the International Labor Organization.As part of the CARM package insurance,mobile phone based agro-advisoryservices, irrigation controllers wereprovided. WRL now provides theseservices over 20000 farmers across India.Farmers use agro-advisory services,irrigation management systems aspreventive risk management measures.Insurance is used to manage catastrophicrisks. This risk management package alsofacilitates bank loans to farmersDemonstrated thatmicro-insurance forsmall scale farmerscan be madecommercially viableand sustainable byclubbing it withother riskmanagementservicesCase Study 13. VISION WHAT WE DO CLIENTS IMPACT PROPOSALCase StudyCholamandalam is a leading Indian general insurance company. In2011 Weather Risk was hired to help structure Weather and Yield Indexbased Crop Insurance Products.Business Case What we did ImpactCholamandalamwanted to establisha robust CropInsurance Productsportfolio WRL helped to structure Weather andYield Index based products as well asadvised Cholamandalam to manage itsCrop Insurance portfolio. We helped to build necessary bankingchannels for sales and distribution. WRL also installed Weather Stations andconducted claim settling audits. Cholamandalamgenerated a premiumincome of US $ 20m in FY13 - 14 The portfolio covers20000 farmers in Biharand Rajasthan WRL continues to helpCholamandalam targetUS $40 m in 2014 - 15 14. VISION WHAT WE DO CLIENTS IMPACT PROPOSALCase StudySince 2007 we have helped ICICI Lombard implement a jointnationwide weather and agriculture Insurance market making andstrategic development exercise.Business Case What we did ImpactLarge Scaleimplementation ofsubsidized weatherinsurance program WRL embarked on an exercise toremove technological, policy level andreinsurance capacity bottlenecks. WRL developed low cost weatherstations, unmanned aerial vehicles, andautomated yield measurementinstruments to facilitate claimsettlement. WRL also pursued the Ministry ofAgriculture for subsidy support. The Ministry kindlyconsented in 2007 andgranted support toWeather InsuranceProducts. In Rabi 2009 - 10 seasonWRL covered close to4000 farmers for 10000acres in just 2 districts ofWest Bengal. 15. VISION WHAT WE DO CLIENTS IMPACT PROPOSALCase StudyLate Blight is a lethal potato disease. In 2006 PepsiCo contract farmerslost 60 % of their crops due to this bane. We helped PepsiCo providerisk management to over 10000 farmers in Punjab.Business Case What we did ImpactDifficult to extendcover underexisting CropInsurance programsdue to moral hazard WRL worked with the PepsiCo groundteam in Punjab. Our analysis indicated high correlationswith location humidity andtemperature. We created an index to cover blight riskspecific to the region. Additional weather stations wereinstalled to minimize basic risk criticalfor extending this kind of cover. Program successfullyrunning in its 9th year. Covers 10000 potatofarmers in Punjab. Strong demonstration ofhow insurance can beused by contract farmingcompanies to sustaintheir grower base. 16. VISION WHAT WE DO CLIENTS IMPACT PROPOSALCase StudyWe have helped ~ 5000 farmers covered by SAFAL access betterinsurance and information for risk as well as equipped their logisticssystem to track over 2000 Trucks and Vans.Business Case What we did ImpactLarge Scaleimplementation ofinsurance andinformation serviceto farmers WRL provides sponsored weatherinformation, forecast and insuranceservices to contract farmers of SAFAL Multi State Program WRL has also provided GPS basedvehicle tracking solutions which nowhas become a backbone of completelogistics of distribution of milk and milkproducts. 5000 Farmers Haryana, UP, Uttaranchaland Rajasthan Vehicle Tracking in 2000trucks 17. VISION WHAT WE DO CLIENTS IMPACT PROPOSALPhase IDevelop a projectplan forweather/CropInsurancePhase IIFew Pilots Phase IIIScale up 18. 18The sky is not the limitC R O PI N S U R A N C ES E R V I C E SS O N U A G A R W A LM A N A G I N G D I R E C T O [email protected] - r S E P T E M B E R 2 0 1 4