Rural Development Initiatives
 | ICICI Lombard offers 'micro insurance', that includes health insurance cover at cheaper rates to rural population through NGOs, micro finance institutions and self-help groups servicing a foot-print of over 20 lakh lives for Health insurance and 15 crore lives in Personal Accident insurance. |
| BASIX (one of India's largest micro finance institutions with nearly 100,000 borrowers in nine states) has launched India's first rainfall insurance program in July 2003 through ICICI Lombard. |
| Weather insurance was launched in the kharif season of 2003 for the first time in India. |
| As of March 31, 2006, ICICI Lombard has Insured over 100 million rural Indians (over 15% of India’s rural population) for casualty and health insurance through participation in a series of government funded schemes. |
Weather Insurance Statistics
As of March 31, 2006, weather insurance had seen a remarkable growth. Following were the highlights that we have witnessed:
| Farmers covered: over 1,17,000 farmers across 1,32,000 acres of land |
| States covered: Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Gujarat, Maharashtra, Punjab, Haryana and Karnataka, Orissa, Jharkhand. |
| Crops covered: Paddy, groundnut, oranges, coriander, wheat, soy bean, cotton, black gram, castor, grapes, cumin, kinnu and stevia |
| Risk parameters covered: Deficit rainfall, excess rainfall, high and low temperatures, excessive relative humidity and a combination of them. |
| Total claims settled: Total claims settled amounted to around Rs.10 mn. |
Click to view case studies in Rural Insurance Initiatives
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