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Agriculture Insurance Company of India Limited,xzhdYpj ba';ksjsUl dEiuh vkWQ bafM;k fyfeVsM

www.aicofi ndia.com


OUR VISION

AWARDS & ACCOLADES

OUR ACTIVITIES

OUR COMPANY

OUR ACHIEVEMENTS

OUR MISSION

• Accelerate the economic momentum of the Nation by bringing fi nancial stability to rural India

• Innovate and develop rural-oriented and farmer- friendly insurance products for all agricultural allied risks

• Cast a protective net over agricultural and allied activities from natural perils and risks

• Asia Insurance Industry Awards 2012 (Kuala Lumpur)• SKOCH Digital Inclusion Award 2013• Celent Model Insurer Asia Awards 2013 (Singapore)• Asia Insurance Industry Awards 2013 (Singapore)• Express IT Awards 2013• IASA Technology Innovation Award 2014 (Chicago, USA)• IDC Insights Awards 2015• Gems of Digital Enterprise 2017• Insurance India Awards 2017

• Agriculture Insurance covering all major cereals & oilseeds crops and various commercial / horticultural crops.

• Market leader for “Pradhan Mantri Fasal Bima Yojna” (PMFBY), “Restructured Weather Based Crop Insurance Scheme” (RWBCIS) and “Coconut Palm Insurance Scheme” (CPIS)

• Developed innovative, tailor-made farmer-friendly insurance products for specifi c risk profi les.

• Agriculture Insurance Company of India Limited (AIC), has been formed under the aegies of the Government of India and promoted by 6 Public Sector Companies as a speciality crop insurance provider to the Indian farming community

• Incorporated in December 2002 and commenced business from April 2003

• Authorized share capital of ` 15 billion and paid- up capital of ` 2 billion

• Country-wide network of 18 Regional Offi ces at State Capitals, controlled through Corporate Offi ce at New Delhi

• Insured about 2.85 crore farmers in 2016-2017 making AIC the largest Crop Insurer

• Accumulated Net-worth of ` 2767 crore as on 31.03.2017.

• Claims to the tune of ` 55162 crore paid in last 10 years.

• Agricultural insurance products be designed and developed on scientifi c basis and sound insurance principles to address diverse need of farmers

• Improve delivery and service agricultural insurance so as to bring the remotest and poorest farmer under its umbrella in an economical and effective manner

• Create widespread awareness about agricultural insurance as the principal risk mitigation tool, and thus establish it as an effective bulwark of the rural economy


The Scheme has been introduced from Kharif 2016 replacing National Agriculture Insurance Scheme (NAIS) and Modifi ed National Agriculture Insurance Scheme (MNAIS) and is being implemented by AIC and other empanelled insurance companies.

The Scheme is available to all the farmers both, loanee and non loanee irrespective of the size of their holding. The Scheme envisages coverage of all crops including cereals, millets, pulses, oilseeds and annual commercial and horticultural crops in respect of which past yield data is available.

As per provisions of PMFBY, Insurance Unit for major crops is village panchayat or other equivalent unit. Premium rates are actuarial supported by up-front subsidy in premium, Farmers share of premium is capped at 2% in Kharif season, 1.5% in Rabi Season for Food Crops and Oilseeds and 5% for Annual Commercial Horticulture Crops.

The major features of the scheme are as follows:• The Scheme is implemented on an ‘Area Approach basis’. The unit of insurance shall be Village/Village Panchayat level for

major crops and for other crops it may be a unit of size above the level of Village/Village Panchayat.

• The Loss assessment for crop losses due to non-preventable natural risks will be on Area approach.

• In case of majority of insured crops of a notifi ed area are prevented from sowing/planting the insured crops due to adverse weather conditions that will be eligible for indemnity claims up to maximum of 25% of the sum-insured.

• Losses due to localised perils (Hailstorm, landslide & inundation) and Post-Harvest losses due to specifi ed perils, (Cyclone/Cyclonic rain & Unseasonal rains) shall be assessed at the affected insured fi eld of the individual insured farmer.

• There will be a provision of on account claims in case of adverse seasonal conditions during crop season viz. fl oods, prolonged dry spells, severe drought, and unseasonal rains.

WBCIS is a parametric insurance product designed to provide insurance protection to the cultivator against adverse weather incidence during the cultivation period, such as defi cit & excess rainfall, frost, heat (temperature), relative humidity, wind speed etc., which are deemed to adversely impact the crop yield.

Crops and ‘Reference Unit Areas (RUA)’ are notifi ed before the commencement of the season by the State Government Each RUA is linked to a Reference Weather Station (RWS), on the basis of which payout/ claims are processed. The payouts are made on the basis of adverse variations in the current season’s weather parameters as measured at Reference Weather Station (RWS). Claim under WBCIS is area based and automatic. The Company insured more than 35 different crops including perennial crops like Apple, Citrus fruits, Grapes, Mango, Pomegranate, Cashew nut, Oil palm, etc.

Named peril insurance designed in consultation with Coconut Development Board (CDB), covering Coconut palms in the age groups of 4-15 years and 16-60 years, against death due to Fire, Lightning, Cyclone, Storm, Flood, Pests and widespread diseases, Earthquake, Severe Drought etc. The Scheme is available to all Coconut growing States/UTs in the country. On premium, 50% subsidy will be paid by Coconut Development Board (CDB) and 25% by State Government concerned and balance 25% of the premium will be paid by farmer / grower. In case, the State Government does not agree to bear 25% share of premium, farmers / growers will be required to pay 50% of premium, if interested in insurance Scheme.

PRADHAN MANTRI FASAL BIMA YOJANA (PMFBY)

RESTRUCTURED WEATHER BASED CROP INSURANCE SCHEME (RWBCIS)

COCONUT PALM INSURANCE SCHEME (CPIS)


Mango InsuranceAIC agrees to compensate the insured against the likelihood of diminished mango output resulting from actual rainfall in excess of the trigger levels, absolute deviations in daily temperatures & wind speed above the defi ned limits. The insurance operates from the month of December to June

Rainfall Insurance Scheme Coffee(RISC)Failure of Blossom Showers, Backing Showers and Excess rainfall during monsoon and post monsoon seasons affect the crop yield. Scheme offers cover for these and is implemented in all coffee growing areas of the country with subsidy support by Government

Weather Insurance (Rabi)AIC provides insurance against adverse deviations in a range of weather parameters like temperatures below 40 C resulting in frost, heat, relative humidity, rainfall in excess of trigger levels, bright sunshine hour below trigger level, etc. The period ranges between December and April, however it is different for various parameters and crops.

Varsha BimaCovers anticipated shortfall in crop yield on account of defi cit and excess rainfall, consecutive dry and wet days, etc. It is voluntary for all classes of cultivators who stand to lose fi nancially upon adverse incidence of rainfall and they can take insurance under the scheme. It is available for many of the seasonal fi eld crops.

Bio-Fuel Tree/Plant InsuranceNamed-peril insurance covering six different species of plants / trees, used for commercial production of bio-fuel, with optional cover against drought risk

Cardamom Insurance Scheme is designed in consultation with Spices Board to provide conventional cover against death/ loss of plant bushes. Cover available for small and large cardamom varieties.

Potato Insurance Parametric named-peril insurance linked to plant population, available for potato growers under contract farming.

Pulpwood Tree InsuranceThe policy covers against pecuniary loss suffered on account of the total loss or damage to the trees occasioned by specifi ed perils/risks like fi re, fl ood, cyclone, storm, frost, pest and diseases

Rubber Plantation InsuranceCovers death/total loss of rubber trees against natural calamities and other non-preventable perils, applicable to both mature and immature plants, based on establishment cost and loss of future returns.

Draksha Vima Policy (Grapes Insurance)Combination of weather index and conventional crop insurance, providing coverage against adverse rainfall, cold wave and hail incidence.

INDEX INSURANCE

TRADITIONAL INSURANCE

HYBRID PRODUCT


The CSR initiatives of our Company aim at improving the basic life necessities of individual and collective life amenities of the community. In pursuit thereof, our Company has undertaken the following CSR projects/activities:

1. Integrated Village Development Program (IVDP) in fi fty underprivileged villages from Bihar, Jharkhand, Maharashtra, Madhya Pradesh and Uttar Pradesh

2. Provisioning of daily freshly-cooked mid-day school meals in government/government aided schools through an NGO AKSHAY PATRA.

3. “RISE (Remedial Innovation in School Education)” in education sector with the help of an NGO Aroh foundation.

4. “Badhte Kadam” to impart education among the unprivileged girl child.

5. ‘Lighting a Billion Lives (LaBL)’ through an implementing agency TERI (The Energy and Resource Institute)

6. Supported construction of 7 (seven) classrooms on the fi rst fl oor of existing building of Jodhpur Badhir kalyan Samiti (JBKS) in Jodhpur.

7. Project ‘Saarthak’ through an implementing agency SoS Children’s village to provide homely care and educational support to 130 abandoned children.

8. Project ‘Cataract screening and surgery’ to cater to elderly people.

9. Financial support to the project Farmer Financial Inclusion Fortnight (FFIF).

10. Contributed to the corpus Swachh bharat kosh, Clean ganga mission, a district library at solan, Regional Cancer Centre (RCC), Thiruvananthapuram.

1. Acreage Estimation using Remote Sensing Technology

2. Community Based Individual Farm Insurance Scheme (CBIFIS)

3. PAU Tensiometer Innovative Technology Insurance Scheme (PAUTITIS

4. Rural Insurance Services Programme (RISP)

5. Crop Cutting Experiment aided by a dynamic sampling scheme using satellite data

6. Village level Index Insurance with Technology Support in Maharashtra

7. Remote Sensing-Based Information and Insurance for Crops in Emerging Economies (RIICE) with IRRI, TNAU, GIZ

8. Studies on improving the area-yield crop insurance mechanism using Satellite data and Geospatial technologies

9. Egaged in In-house monitoring of Crop health, loss assessment and acreage estimation using RST in few states.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

RESEARCH AND DEVELOPMENT PROJECTS


COMPANY PERFORMANCE


COMPANY STRUCTUREOur Promoters• General Insurance Corporation of India- 35%

• National Bank for Agriculture and rural Development (NABARD)- 30%

• National Insurance Company Limited- 8.75%

• The New India Assurance Company Limited- 8.75%

• The Oriental Insurance Company Limited- 8.75%

• United India Insurance Company Limited- 8.75%

Chairman-Cum-Managing Director

T. L. Alamelu Malay Kumar Poddar

Dr. Manas Dattagupta

Surya Swaroop Saxena

D. G. Halve Bhupesh S. Rahul

M. Rajeshwari Singh

Dasarathi Singh

Rampal S. Rawat

Ajay Singhal

Rajeev Chaudhary Avinanda GhoshT. L. Alamelu Malay Kumar Poddar

Dr. Manas Surya Swaroop Surya Swaroop D. G. Halve Bhupesh S. M. Rajeshwari M. Rajeshwari Dasarathi Rampal S. Ajay Singhal

Rajeev Chaudhary Avinanda Ghosh

General Managers

Deputy General Managers

1US$ = Rs. 64.81 as on 31.03.2017


AGRICULTURE INSURANCE COMPANY OF INDIA LIMITEDDetails of Regional Offices

S. No. Regional Offices Address Phone No.

1 Ahmedabad Jeevan Vikas Building, 1st Floor, Opp. Jhansi Rani’s Statue, Satellite Road, Ahmedabad - 380015, Gujarat.

079-26472600

2 Bangalore No.18, 3rd Floor, Karnataka Pradesh Krishi Samaj, Nrupathunga Road, Hudson Circle, Bangalore - 560 001 Karnataka

080-22115501

3 Bhopal Kwality Globus, 1st Floor, Opp.RBI, NH-12, Hoshangabad Road, Bhopal - 462011 Madhya Pradesh

0755-4026105

4 Bhubaneshwar 87, Satyanagar, Bhubaneshwar - 751 007 Orissa 0674-2572409

5 Chandigarh SCO No. 64-65, Ground Floor, Madhya Marg, Sector 8-C, Chandigarh - 160009

0172-5078633

6 Chennai No. 323, 1st Floor, Andhra Insurance Bldg, Thambu Chetty St, Parrys corner, Chennai - 600 001 Tamil Nadu

044-43403401

7 Dehradun 56, Rajpur Road, Behind Hotel Classic, Dehradun - 248001 Uttarakhand 0135-2740233

8 Guntur TS No-14, New word No. 9 Block-1, Present Door No. 31-14-1179 14th Line Arundelpet, Guntur City, Andhra Pradesh

0863- 2233565

9 Guwahati H.No.160, 3rd Floor, (Above Vijay Bank Regional Offi ce), Rajgarh Road, Guwahati - 781 007 Assam

0361-2462314

10 Hyderabad 3-5-817 & 818, 8th Floor, United India Towers, Basheerbagh Cross Road, Hyderabad - 500 029 Telangana

040-23242597

11 Jaipur Sanghi Upasana Towers, 4th Floor, C-98, Subhash Marg, Near Ahinsa Circle, C- Scheme, Jaipur - 302 001 Rajasthan

0141-4042999

12 Kolkata Om Towers, 5th Floor, 32, Chowringhee Road, Kolkata - 700071 West Bengal.

033-22882666

13 Lucknow 5th Floor, Jeevan Bhavan, Phase-II, Naval Kishore Road, Hazaratganj, Lucknow-226001 Uttar Pradesh

0522-2621173

14 Mumbai 20th Floor, BSE Tower, Dalal Street, Fort, Mumbai - 400 023 Maharashtra 022-61710910

15 Patna 1st Floor, Yunus Corporate, S. P. Verma Road, Patna – 800001, Bihar 0612-2216426

16 Raipur Jeevan Prakash, Jeevan Bima Marg, Pandri, Raipur - 492 004 Chattisgarh 0771-4316022

17 Ranchi 1st Floor, Tara Tower, Radium Road, Kutchery Chowk Ranchi - 834 001 - Jharkhand

0651-2360541

18 Thiruvananthapuram 8th Floor, Carmel Towers, Cotton Hill P. O, Vazhuthacaud, Thiruvananthapuram 695 014 Kerala

0471-2334989

Agriculture Insurance Company of India LimitedRegd. Office : 13th Floor, "Ambadeep", 14, Kasturba Gandhi Marg, New Delhi-110001

Telephone : +91-11-46869800, Fax: +91-11-46869815, Email: aicho@aicofi ndia.com, Website: www.aicofi ndia.comCIN: U74999DL2002PLC118123, Toll Free Helpline: 18001030061

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