Gramcover

Owned by Ashu Sikri (Unlicensed)
Last updated: Sept 05, 2022
1 min read

Parametric insurance intro deck

Term sheet for excess rainfall program designed for Jharkhand. 712 rupee premium for 15,000 max payout for excess rainfall mid Feb through end of April.

  • Spoke with Dhyanesh Bhatt (CEO / Co-founder) on Aug 30

  • Jharkhand and Bihar pilot:

    • Worked with an FPO and insurance company to design a custom crop insurance program for tomato and paddy farmers

    • FPO had 500 members and during 15 day enrollment window, only 6 farmers signed up

  • Ideas for driving insurance through FPO

    • Ability to influence farmer is limited; insurance needs to be bundled with something else to drive uptake

    • All members in FPO are automatically enrolled and FPO deducts premium (eg, 100 rupee annually) from some regular transaction they have w members

    • Establish FPO member as a reseller of some product (eg, motor insurance)

  • Major insurance products:

    • health

    • parametric crop

    • livestock

    • Motor (2 wheeler, tractor)

  • Open to doing some pilots in Bihar where they have a presence

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