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Livestock Insurance Knowledge Paper by National Insurance Academy, Pune

Download Knowledge Paper "Live Stock Risk Mapping and Analysis of Cattle Insurance Portfolio for Improving the Cattle Insurance Penetration in India"

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