INSURANCE

Agriculture and crop insurance are becoming increasingly important with the increasing severity of pest attacks, crop diseases, and vagaries of weather. Insurance companies offer coverage and financial assistance to farmers if any of the notified crops fail due to natural calamities, pests, or diseases. It also encourages them to invest in inputs and technology to increase yields and household income. Since the insurance sector offers a way to reduce volatility, strengthen resilience, and support productivity growth in the agriculture sector, they need high-quality yield data.

Key challenges distressing the insurance industry

Village-level Risk Assessment

Timely Application and Claim Verification

Timely Update on Crop Stress

Geo-locating the Farms

Independent Yield Estimation

How does PInCER help?

RMSI Cropalytics solution addresses the emerging need for institutional financing to create risk profiles for farmers and assess their creditworthiness. With our solution, verifying farms could be fast-tracked for claiming settlement. In addition, insurance companies can evaluate the probability of a moral hazard and provide a rapid response to farm distress.

Our solution helps insurance companies monitor their area of interest throughout the season, from sowing to harvest. The solution streamlines the reinsurance strategies and helps make decisions on early payouts. It captures information at all the stages of crops and helps stakeholders make an informed decision on matrices:

  • Crop-specific acreage
  • Sowing Progress
  • Health of the crop at different stages
  • Stress due to water, pest, and diseases in infestation
  • Track Yield estimates and harvest status on a real-time basis

PInCER Modules Enabling the Insurance Industry

Weather and Crop Yield Outlook

Get country, state or district wise yield and acreage outlook and estimation for all major crops

Premium Pricing

Arrive at premium pricing to bid for various clusters and adopt a suitable reinsurance strategy

In-season Tracking

Track crop growth during the season, to get early heads-up on distress hotspots and estimate likely output

Policy Verification

Verify crop insurance policies to assess the probability of moral hazard, and manage faster claim settlement

Farmer decision support system

An integrated web and mobile-app platform that allows geo-coding and two-way communication with farmers

Key benefits of using PINCER

Satellite and weather data-based advisory

Prioritize your target area

Demand forecasting and effective go to market

Drive farmer engagement

Track crop-specific acreage and yield estimation

Limit field visits for your last-mile team

Success Stories

Mapping maize crop acreage for an agrochemical and agricultural biotechnology corporation

The client wanted to conduct a study to estimate and map the crop acreage of maize across 5 countries in Asia (China, India, Pakistan, Philippines, Thailand & Vietnam). The aim was to have a scalable approach to understand maize growing regions in these countries and estimate crop acreage, which will eventually help the company in planning for its maize-oriented products. 

RMSI adopted an integrated approach to use satellite imagery, ground survey, and secondary information to develop an understanding of Maize crop acreage. We conducted a detailed analysis to understand the Maize crop’s sowing window, crop duration, and spatial distribution/spread across the five Asian countries during 2018-19’s multiple cropping seasons.

Gram Panchayat level crop yield estimation using technology for a government entity

The client wanted to conduct a pilot project to compare the potential scope, applicability, and viability of various advanced technology-based yield estimations for three crops – Paddy, Cotton, and Red Gram – grown in different agro-climatological zones of India.

RMSI proposed an approach where robust machine algorithms were clubbed with efficient remote sensing technologies and physical surveys. It captured ground control points (GCPs) critical for capturing location, crop signature, and CCE data, and RMSI generated crop spread maps for specific crops using high spatial resolution satellite imageries.

Assessing crop growth using remote techniques for a non-profit international research institute

The client wanted to conduct a study for crop health monitoring, pre-harvest crop acreage, and yield estimation to find out the potential scope, applicability, and viability of scientific and modern techniques in agricultural assessments. The areas of study were four soybean-growing districts of Maharashtra (i.e., Kolhapur, Latur, Osmanabad, and Washim). 

RMSI conducted an experimental study to compare the potential scope, applicability, and viability of four advanced technology-based agricultural assessment techniques for soybean as a test crop in four soybean-growing districts of Maharashtra with different agro-climatological set-ups in Kharif 2016.

Crop yield estimation & supply chain management for an Apex-Export Trade Promotion Active government entity

The client wanted to assess the Basmati crop acreage in northern India to estimate yield and thereby assist in effectively managing the Basmati supply chain in India, mainly for exports.

RMSI adopted an integrated approach to use satellite remote sensing, ground survey, and secondary information to develop an understanding of basmati acreage. It was followed by satellite image processing to estimate the spatial distribution and distinction of different rice varieties from basmati, depending on the various crop growth stages at the time of imagery acquisition.

Brochure | Insurance Industry

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