Risk Mapping and Analysis of Cattle Insurance Portfolio for Improving the Cattle Insurance Penetration in India
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Chapter – I
RISK MAPPING AND ANALYSIS OF CATTLE INSURANCE PORTFOLIO FOR IMPROVING THE CATTLE INSURANCE PENETRATION IN INDIA
Author Dr. Steward Doss, Faculty, National Insurance Academy, Pune
Chapter – II
ENABLING PARAMETRIC LIVESTOCK INSURANCE THROUGH TECHNOLOGY INTERVENTION
Author Anupama Rathore, Vignesh Mahalingam Suresh, Samuel John, et al.
Chapter – III
ISSUES AND CHALLENGES IN CATTLE INSURANCE
Author Dr. Steward Doss, Faculty, National Insurance Academy, Pune
Chapter – IV
EXPLORING LIVESTOCK INSURANCE PENETRATION IN INDIA
Author Dr. Suresh Saraswat, Faculty, National Insurance Academy, Pune.
Index
| Contents | Page No |
| CHAPTER - I | 1 |
| RISK MAPPING AND ANALYSIS OF CATTLE INSURANCE PORTFOLIO FOR IMPROVING THE CATTLE INSURANCE PENETRATION IN INDIA | 1 |
| 1. INTRODUCTION | 1 |
| 2. NEED FOR CATTLE INSURANCE | 4 |
| 3. OBJECTIVES OF THE STUDY | 7 |
| 4. METHODOLOGY ADOPTED FOR THE ANALYSIS | 8 |
| 4.1 TYPES OF DATA AND THEIR DESCRIPTIONS: | 8 |
| 5. DATA ANALYSIS: | 9 |
| 6. ANALYSIS OF CATTLE CLAIMS: | 10 |
| 6.1 OVERALL CLAIMS EXPERIENCE OF THE PORTFOLIO: | 11 |
| 6.2 NUMBER OF ANIMALS INSURED VS INCIDENCE OF CLAIMS AND INSURED MORTALITY: | 12 |
| 6.3 INSURED MORTALITY: | 13 |
| 6.4 CLAIMS EXPERIENCE ACROSS DIFFERENT TYPES OF CATTLE: | 14 |
| 6.5 ANALYSIS AMONG DIFFERENT TYPES OF BREEDS: | 15 |
| 7. REGIONWISE ANALYSIS OF CATTLE CLAIMS: | 16 |
| 8. CONCLUSION AND SUGGESTIONS: | 17 |
| CHAPTER - II | 21 |
| ENABLING PARAMETRIC LIVESTOCK INSURANCE THROUGH TECHNOLOGY INTERVENTION | 21 |
| 1. Introduction | 21 |
| 2. Need for Innovations in Parametric Insurance | 22 |
| 3. Proposal: Internet of Animals for Behavioural Monitoring | 22 |
| 4. Proposal: Index Models for Heat Stress and Torrential Rains | 24 |
| 5. Benefits offered by the Proposed Models | 26 |
| 6. Solution Outcomes | 28 |
| CHAPTER - III | 29 |
| ISSUES AND CHALLENGES IN CATTLE INSURANCE | 29 |
| 3.1 LACK OF AWARENESS | 30 |
| 3.2 VETERINARY INFRASTRUCTURE | 32 |
| 3.3 CHALLENGES IN VALUATION AND IDENTIFICATION OF ANIMALS | 32 |
| 3.4 ACTUARIAL PRICING | 34 |
| 3.5 INCENTIVE SYSTEM FOR RISK REDUCTION | 34 |
| 3.6 BUNDLED AND COMPREHENSIVE INSURANCE PRODUCTS | 35 |
| 3.7 CLAIM SETTLEMENT PROCESSES | 35 |
| 3.8 RECRUITMENT, TRAINING AND CO-OPERATION OF INTERMEDIARIES | 36 |
| 3.9 INFRASTRUCTURE FOR DATA CAPTURING AND DATA INTEGRATION | 36 |
| 3.10 GOVERNMENT’S SCHEMES AND INITIATIVES | 38 |
| CHAPTER - IV | 40 |
| EXPLORING LIVESTOCK INSURANCE PENETRATION IN INDIA | 40 |
| 1 Need of Insurance | 41 |
| 2 Scope of Cover | 42 |
| 3 Common Exclusions | 42 |
| 4 Underwriting | 43 |
| 5 Claim Procedure | 43 |
| 6 Issues & Challenges | 43 |
| 7 Recommendations | 44 |
| SUMMARY OF FINDINGS, SUGGESTIONS AND CONCLUSION | 46 |