CII To Host Virtual Session on Technology Solutions for Addressing Challenges in Crop Insurance

The Confederation of Indian Industry (CII) will host a virtual session on Technology Solutions for Addressing Crop Insurance Challenges on February 18, 2022. Many eminent speakers will participate & share their views in this session.

Agriculture accounts for 16% of India's GDP. To mitigate agricultural risks, the government has created an ecosystem that provides farmers with credit and insurance. Indian insurers play an important role in the agricultural ecosystem.

Crop insurance is the third largest line of business for general insurers. Insurance penetration stands at 22 percent of total farmers covered and 30 percent of the gross cropped area. This opens up a huge opportunity for insurers to expand. Rapid deployment of technology solutions to improve insurance operations will undoubtedly be a key enabler.

Chief Guest- Ritesh Chauhan, CEO, PMFBY & Joint Secretary, Ministry of Agriculture & Farmer’s Welfare, GoI

Guest of Honour- Eknath Dawale, Secretary (Agri), Govt. of Maharashtra            

Importance of Session:

• Farmers in India are exposed to large agriculture risks due to the vagaries of nature. One of the most effective mechanisms to mitigate agricultural risks is to have a robust insurance system.

• Despite the fact that crop insurance has been in place in the country since 1972, it has been plagued by issues like lack of transparency, excessive premiums, delays in conducting crop cutting experiments, and non-payment/delayed payment of claims to farmers.

Key Panelists:

• Jatin Singh, Founder & MD, Skymet Weather Services Pvt Ltd.

• Yogesh Patil, CEO, Skymet Weather Services Pvt Ltd.

• Mangesh Patankar, Head of Agriculture, Reinsurance-India, Swiss Reinsurance Company Ltd.

• Siddesh Ramasubramanian, Chief Risk Officer, Agriculture Insurance Company  of India

• Dr. Sunil Kumar Dubey, Assistant Director, MNCFC 

To attend the session, you can register here: https://bit.ly/3HVH0vM