Weather Impacts Crop Production and Weather Insurance as a tool has been successfully tried out by ITC e choupal Financial Service Managers
They have serviced sold over 150000 contracts in last 2 years and have been successful in getting repeat purchase . All this has been Retail sales without bundling ( forced ) upon through loans .Interesting isn't it ??
How do they do it ??
Designing Relevant Products
Farmers , Village Lead men , district officers and agri consultant all work together with Insurance specialist to design right product .( ITC echoupal way ) . No gyan pur action is their Motto.
Create Awareness
Farmer meeting in very village : Use of audio visual tools to create weather Insurance awareness . Each crop season they conduct over 2000 odd farmers meetings . The idea is to spread the knowledge across 30000 villages
Leverage Distribution
Considering a very short sales window of 20 - 30 days , having an existing distribution system that can sell Insurance helps . Thats where ITC choupal scores ... 100 Insurance officers + 6000 Sanchalak + 15000 Up sanchalak can create wonders . I personally feel this network is still underleveraged
