Need for Tech-based crop insurance solutions: IRDAI

With the growing demand of technology-based changes to make crop insurance full proof the regulator has sent communication to the State Governments of Madhya Pradesh and Punjab to launch field level pilot programs to test some new measures.

The government and IRDAI had commenced the exercise to address problems on the crop insurance from early this year and proposed the launch of a pilot programme.  It is analyzed that, if things move ahead as planned, these two States will be roped in to introduce measurement of acreage or/and yield on the basis of satellite images in place of physical measurement being used now.