PMFBY- Roadmap for Happy Farmers and Satisfied Stakeholders

A Seminar organized and hosted by IRICBS from November 12, 2018 to November 15, 2018

IRICBS organized its 2nd Agri Conference in Mumbai from November 12, 2018 to November 15, 2018. The theme was "Roadmap for Happy Farmers and Satisfied Stakeholders".

The purpose of the Seminar was to get all Stakeholders together on one platform to discuss the expectations each one has of the other and deliberate the way forward to achieve the PMFBY scheme’s objectives. The Seminar was attended the Government of India, State Governments, Insurers, Reinsurers, Research Institutes, Technology Partners and Bankers.

The Inaugural Session was attended by Chief Guest of the Seminar Dr A K Bhutani, CEO(PMFBY), Mr Eknath Dawale, Secretary (Agriculture), Government of Maharashtra, Mrs Alice Vaidyan, CMD, GIC Re, Mrs T Alamelu, CMD, AICI and Dr P K Aggwarwal, Regional Programme Director, CCAFS.

The discussions at the Seminar revolved around various topics which included Challenges and Opportunities in PMFBY for Insurers- Reinsurer-State Governments, use of Technology for improving Crop Yield Estimation and International practices and Role of PMU and Technology in PMFBY. In all over 135 participants attended the Seminar including representatives of 16 Insurance companies. The Seminar was appreciated by all participants.

On the 2nd day of the Seminar- November 13, 2018, bilateral meetings were organized between Insurers and Reinsurers and in all a total of over 160 meetings were arranged. On the 3rd and the 4th day of the Seminar, more than 20 representatives from reinsurance companies from around the World witnessed the methodology employed in conducting Crop Cutting Experiments (CCE’s) at Vadgaon Maval near Pune. Reinsurers also attended classroom sessions organized at IMD Pune, which gave them a bird’s eye view of the different initiatives undertaken by IMD to help the Farming Community.

The feedback received from the participants was very satisfying and was sufficient reward for the enormous amount of planning, logistics and efforts on the part of IRICBS team to make this seminar constructive to the Insurance Industry as a whole.

Combining forces for the resounding success of PMFBY

A Seminar organized and hosted by IRICBS from October 06, 2017 to October 10, 2017

With the introduction of Pradhan Mantri Fasal Bima Yojana(PMFBY) 2 years back, a scheme which is very much in the interest of Farmers and which has given the biggest boost in Premium earnings for Indian Insurers, there is a significant capacity that is required from Reinsurers to enable Insurers to support in the role expected of them.

The 4 main players involved are Government of India, States, Indian Insurers and Reinsurers particularly- GIC Re. Each of the main players have expectations of their own, hence the idea behind holding this seminar was to get everyone together at one platform so that each of them got a better understanding of the expectations from the others. The chief guest for the seminar was Dr. P K Mishra- Additional Principal Secretary to the Prime Minister of India and the Key Note address Speaker was Dr A K Bhutani, Joint Secretary, Ministry of Agriculture and Farmers Welfare, Government of India.

Participation was wide ranging from all the stakeholders, with 8 representatives attending from Central Government and State Governments, 1 from IRDAI, around 50 from Insurers and 40 from Reinsurers. The discussions at the seminar were well received by all participants. In addition to the seminar, arrangements were in place for Reinsurers to personally witness the methodology employed in conducting Crop Cutting Experiments (CCE’s) which has undergone a significant improvement following stipulations under the PMFBY scheme. In all, over 25 reinsurers participated in CCE’s which were conducted in the states of Haryana and Rajasthan.

The feedback received from the participants was very satisfying and was sufficient reward for the enormous amount of planning, logistics and efforts on the part of IRICBS team to make this seminar constructive to the Industry as a whole.