Transcript Tata AIG R&SI
Tata AIG Rural & Social Initiative
Kiran Kumar K -Tata AIG
Cattle Insurance
Rural Market Segmentation
Demographics
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650,000 Villages
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800 m Population
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>20 acres Land
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> 4 Cattle, Poultry
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Tractor
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Car, 2Wheeler, Cycle
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RCC Home
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TV, Fridge, AC
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Telephone
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< 5 - 10 acres Land
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< 3 Cattle, Poultry
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2Wheeler, Cycle
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Tiled / RCC Home
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TV
Micro Insurance – Generally Group Biz
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< 2 acres Land
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1 Cattle, Livestock
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Unorganized Labor
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Skill based Occupation Hut / Tiled Home
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Landless Laborer
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Unorganized Laborer
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Semi-Skill Occupation
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Hut Rich 2% Mid-Income 20%
(Average Landholdings / Small Entrepreneurs)
HH Income >$6/day (Annual Saving Rs.50,000/-)
Above Poverty Line (APL) – 50%
(Very Marginal / No Landholding)
HH Income < $3/day (Annual Saving Rs.3000/-)
Below Poverty Line (BPL) – 27%
(Landless / Self Employed)
HH Income < $ 1/day (Annual Saving Rs.500/- to1000/-)
Risks / Insurance
HIG/ MIG Segment - Top of Pyramid (TOP)
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Crop Ins
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Cattle farm,
Poultry
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Tractor Ins
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Car, 2Wheeler Ins
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Home Ins
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IPA Ins
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Health Ins
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Travel Ins
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Life Ins
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Crop Ins
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Cattle farm,
Poultry
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2Wheeler Ins
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Disaster Ins
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IPA ins
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Health Ins
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Life Ins
Channel
Finance:
Comm/ Rural Bank Coop Bank, PACS
Agriculture:
Rice Mills Agri. Dealers
Dairying:
Coop. Dairy Pvt. Dairy
Others:
Rural Agencies Rural Agents
Micro Ins Segment - Bottom of Pyramid (BOP)
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Cattle Ins
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Sheep / Goat Ins
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Hut / Disaster Ins
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GPA Cover
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Micro Health Ins
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Life Ins Finance MFI NGO SHG Dairying
Coop. Dairy Pvt. Dairy •
Hut / Disaster Ins
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GPA Cover
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Micro Health Ins
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Life Ins
Market Potential – Cattle
India has the largest cattle population in the world approximately 283 million cattle, constituting 30% of the worlds cattle population.
Cattle in India is predominantly buffalo. Cows make up 30% of the cattle population India is the largest producer of milk (100 Million Tones). Even with per capita milk production being one of the lowest in the world It is one of the few countries where cattle is considered holy and revered with religious fervor.
It drives the secondary economic activity in rural India. The primary being agriculture.
Cattle Insurance - Product
For Cow, Buffalo, Stud Bull Provides comprehensive cover to cattle against death due to
Diseases
Accidents
Natural calamities
Riots, Malicious damage, Terrorism
Permanent loss of milk yielding capacity due to disease
EXCLUSIONS
Intentional slaughter of the animal Missing, Theft and/or clandestine sale of the insured animal Partial Disablement of any type, whether temporary or permanent Permanent Total Disablement (PTD) incapacity to conceive or yield milk War, nuclear material or weapons.
Consequential loss of whatsoever nature Claim arising due to disease contracted within 15 days from risk date Claims received without intact Ear tag
Issuance Process
Identification of Cattle is key to successful implementation of cattle insurance
Identified with unique numbered polyurethane (PU) Ear-tags This is done by proper Tagging of the animal at the time of acceptance for insurance
Issuance Process Tagging shall be done by trained officer
Check and confirm the health of the animal Tag the animal successfully with PU tag Digitally photograph the animal along with the insured
Front View
Identify Tag No.
Identify shape of horns Identify facial colour and marks
Identify the owner along with the animal Identify health of the animal Identify the colour and marks on the animal
Side View
Rare View
Identify the udder of the animal Identify the shape of the legs Identify the health of the animal Identify colour and marks on the tail
Adverse Selection
Adverse Selection
Issuance Process
Prepare the Schedule of animals tagged for insurance
Issuance Process
Hand over a vernacular pamphlet on animal care and contact info in event of claim.
Proposal form (Hard/Soft Copy) and Digital Photographs to sent to the insurance company within the next 48 hours In the event of claim field staff will intimate the insurance company on the Toll free No.
Field staff will help the surveyor in identifying the animal and facilitates necessary documentation.
Issuance Process
Retagging
Inform the Insurance Company immediately Arrange for retagging the animal Digitally photograph the animal once again Fill up a fresh proposal cum schedule and submit the same along with the photographs.
Claims Settlement
Experience with various set ups:
NGO/MFI/NBFC
Private Dairies
Co Operative Dairies
Government Projects
Claims Settlement
All genuine claims have been settled with 15 working days Proper underwriting ensures profitability in the long run to
The Insured
The Partner
Then Insurance company
Our Strengths
The salient features of our service
We fundamentally believe in standardization of services up to the last mile
Our product strength lies in our capacity to customize processes, which mitigates hardships in verification for insurance and reporting of claims. We will ensure proper risk management and consequently a better portfolio which is fundamental to a successful Insurance program.
Our hi-tech risk management expertise will help reduce premium rates in the long run, much to the benefit of the customer.
Claim Surveyor network across the country.
In house claims process for faster settlement.
MFI Role in Rural Insurance
Strength
Trust-worthiness Knowledge of rural markets Well spread out Network Network at affordable cost Large customer base
MFI Role in Rural Insurance
Benefits
Secures MFI’s loans Protect members loans Value added services Capacity building in terms of soft skills
MFI Role in Rural Insurance
Opportunity
New channels of business
PROPERTY RISKS
Vehicle
2 Wheeler Personal car Commercial vehicle Tractor
Property
Home/ Hut Shops & Outlets Schools Machinery/ Pump-set
PEOPLE RISKS
For Members / Employees
Accident/ Injury Health & Hospitalization
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Our Milestones
Cross Section of our Strategic Tie-ups: NGO/MFI/NBFC
Indira Kranthi Pathakam – Vishakapatanam Grameen Koota – Karnataka Nava Karnataka Rural Development Society - Karnataka
Private Dairies
Dolphin Dairy – Andhra Pradesh Creamline Dairy Products Ltd
Co Operative Dairies
Baroda Dairy - Gujarat Amul Dairy –Gujarat Mehsana Dairy - Gujarat
Government Projects
LDB/LDA Projects – UP, Haryana & Rajasthan, Madhya Pradesh, Maharastra and Chhattisgarh Our cattle insurance program for
IKP project in Visakhapatnam
, Andhra Pradesh - which was a case study by itself - was well appreciated by
World Bank
and was a discussion forum topic at the
World Bank Workshop on
"Access to Insurance for the Poor," at Rio de Janeiro, in May, 2007
Tata AIG Presence
Existing Sales Offices:
84 Branch Offices POS E-Franchisee
Local Office Email id: :
Tata AIG General Insurance Co Ltd
II Floor, My Home Tycoon, Greenland’s, Begumpet Hyderabad 500 017 [email protected]
Phone No 040 66575914 Mobile No 098855 22555