Ensuring Each Rupee Reaches The Right Farmer, We Re-imagined Crop Insurance
“For every rupee sent from Delhi, only 15 paisa reaches the poor,” former Prime Minister Rajiv Gandhi had said about how government aid reaches beneficiaries. Crop insurance too faced this challenge. Direct Benefit Transfer (DBT) was introduced in 2013 to ensure the entire aid reaches the rightful beneficiary on time. However, 2017’s Maharashtra farm data debacle proved DBT was still a challenge.
To tackle this challenge, FarmGuide conceptualised a unified easy-to-use crop insurance digital platform with all stakeholders — farmers, banks, insurance companies and the government.
This proposal was presented to the Government of India which signed a 3-year MoU with FarmGuide to realise this policy vision.
Inspired by former PM Jawaharlal Nehru’s quote: “Everything else can wait, but not agriculture”, our team devoted countless sleepless nights and break-less days at Krishi Bhavan, working closely with the government, to ensure our systems are delivered well ahead of the documented deadline.
We launched the national multilingual, multi-hierarchical Pradhan Mantri Fasal Bima Yojana portal as a one-stop solution for policy creation, premium calculation and transfer, crop loss reporting, and claims DBT.
This e-governance tool has so far on-boarded 3.5 lakh bank branches, 1.8 lakh common service centres, and 8 crore Aadhaar-verified farmer accounts.
Our experience of running the Rajasthan government’s crop insurance portal, which helped create 93 lakh policies for sum insured of Rs 19,000 crore over 3 harvest seasons, was the design frame behind the national website.
The simple solution to address complex problems approach has resulted in FarmGuide’s policy push to insure all 14 crore farmers, digitally report crop loss and DBT of sum insured within 3 weeks. We are proud to run, with utmost priority towards systems security, the PMFBY portal — the world’s biggest digital insurance platform. To make the system even better, we are developing a tool for satellite imagery-based claim assessments.
Follow, like and share FarmGuide’s content for more posts like this.
