Customer is an award-winning general insurance company offering Agriculture Insurance. The business processes in the Agri insurance space are largely manual and time consuming. It involves processing data from multiple sources – Banks, Government portal etc. There was a need for a comprehensive technology enabled solution to streamline the business processes and drive operational efficiency.
Implementing a technology-enabled solution would involve using software, tools, and platforms that can automate some of the manual processes involved in the business. For example, the company could use software to automatically collect and process data from various sources, reducing the time and effort required to manually input this data.
Overall, the adoption of a comprehensive technology would help Customer to streamline its business processes, reduce costs, and become more competitive in the Agri insurance space. By leveraging technology, the company could improve its operational efficiency and provide better services to its customers.
The Agri Insurance Solution
- Automatic sorting of data at village and crop level for policy issuance
- Configurable logic for calculation of sum insured and premiums
- Multiple levels of validations and sanity checks with workflows to handle deviations (SI & Premium differences)
- Reconcile premium payments data from different sources (State Govt, Central Govt, Farmer share)
- Embedded logic for claim calculation across PMFBY & WBCIS schemes
- Productivity gain by eliminating human error w.r.t. premium calculations
- Accurate estimation of crop yield from the field enabled by CCE Mobile App