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AGRATI_India

Title
Agricultural Risk Assessment Tool for Insurances (AgRATI) in India
Duration
March 2018 until December 2019
Budget
299.000 € funded by Climate-KIC Demonstrator:
Contact
Christoph Gornott
Description

Climate change shows already strong impact in the Indian agriculture and will be even more severe in the future. These impacts are caused by shifting onset and withdrawal of the seasonal monsoon or harsh droughts as the one experienced in 2015, which left millions of farmers at loss. Among a range of climate smart agriculture strategies that farmers can take in order to adapt, insurances have been addressed as holding a large potential to increase resilience for millions of smallholder farmers across India. India already has a crop insurance market, which is growing rapidly. However, insurance companies hesitate to underwrite, because of uncertain and unreliable assessments of crop yield losses. Therefore, this projects aims to further develop our Agricultural Model for Production Loss Identification to Insure Failures of Yields (AMPLIFY) on a technical and product level in order to enable a less costly and larger implementation of such schemes. In this we focus on India where we have acquired a pilot project funded by the Munich Re.

- develop the AMPLIFY model (former IRMA) by imroving model results through increased satellite usage, visualization and automization - acquiring customers from the (re)insurance sector, banks and governmental agencies in India to use the model

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