Risk in production losses of farm crops due to any adverse physical conditions which are beyond control even after following all scientific agro practices leads to lower earnings.
A unique yield-based insurance product, the construct which helps map out farmer practices against predefined milestones and the reimbursement is affected based on the output shortfall, if any. The purpose is to test the simplicity of the product and the effectiveness in reimbursement should the farmer not achieve the desired yields.
Flood affected claim – Rs 12000 per acre
Advantage offered over traditional insurance