An end-to-end solution for crop insurance management
The Pradhan Mantri Fasal Bima Yojna (PMFBY) has been a boon for the Indian farmer, and has offered an exponential growth opportunity for the Indian insurance industry as well. However, along with the dramatic increase in the scale of crop insurance operations in the country, there has been a series of challenges for the insurers, including lack of collated historical weather and hazard data, arriving at the correct premium pricing strategy for different states, and early verification of claims.
PInCER™ (Profile and Information of Crop Exposure and Risk) – is a comprehensive risk management tool for crop insurance. It is a breakthrough solution that applies innovative approaches to premium pricing, claims settlement and planning a reinsurance strategy.
Pre-assess the crop risk, & adopt a suitable reinsurance strategy to build a balanced crop insurance portfolio of states
Arrive at premium pricing to bid for various clusters, in line with PMFBY operational guidelines
Track crop growth during the season, to get early heads-up on distress hotspots and anticipate payouts
Verify crop insurance policies to assess the probability of moral hazard, and manage faster claim settlement
Weather & Crop Yield Outlook
Get country, state or district-wise yield and acreage outlook for all major crops
PInCER™ is a powerful amalgamation of advanced actuarial practices, Nat Cat modeling, mobile technologies, image processing and remote sensing techniques backed by long time series data sets and multi disciplinary experts.