Page 10 - LIFE INSURANCE TODAY Novemver 2017

Bima Yojana (PMFBY) as well as weather-based crop insurance business through the CSC Network. CSCs are
insurance scheme. Non-loanee farmers who have taken more than service delivery points in rural India.
the crop insurance policy at present are only 22 per cent.
They are positioned as change agents, promoting rural
The government has decided to use 1.75 lakh Common entrepreneurship and building rural capacities and
Service Centres (CSC) and post offices in a big way to livelihoods. They are enablers of community participation
encourage more non-loanee farmers to take up crop and collective action for engendering social change
insurance schemes such as PMFBY in 2017-18 crop year through a bottom-up approach with key focus on the rural
beginning July. The government has empanelled 13 citizen. In creating the digital infrastructure, common
insurance companies for 2017-18 crop year (July-June) to service centres (CSCs) are the second limb. The common
sell crop insurance policies -- PMFBY and WBCIS. More service centres are those which provide digital services,
insurance companies are enrolled to provide competition banking, insurance, making of passports, facilitation of e-
in the market. ticketing etc in those areas where digital connectivity is not
available.
CSC is providing Insurance products and services through
Authorised Village Level Entrepreneur (VLE). In addition CSCs are slowly but surely bringing about an e-governance
services for Life Insurance, Health Insurance, Crop revolution in rural India Digitisation of India Post
Insurance, Personal Accident, Motor Insurance etc. is transforms the traditional ways of banking by replacing the
provided. The freshly-created category of over-the-counter need for bank branch in the area for core banking services,
products is not only easy to comprehend for the village- giving access to 24/7 ATM facility in under banked areas,
level entrepreneur, but also the right entry-level product enabling access to insurance services and enabling online
for the rural population. tracking of posts etc. The vast network of India post has
made it possible for Indian citizens residing in areas with
The other insurance allowed to be solicited and marketing no banks to easily access core banking, insurance and e-
through this platform include crop insurance (Government Commerce services. As leading insurance companies
insurance schemes such as Pradhan Mantri Fasal Bima rollout out insurance products and services through CSC
Yojana (PMFBY), weather-based crop insurance scheme network; the rural insurance market gets ready to be
(WBCIS) & Coconut Palm Insurance Scheme (CPIS) without redefined.
any limit on Sum Insured). One can now purchase travel
and home insurance from common service centre-special References:
purpose vehicles (CSC-SPV). 1. IRDA Annual Report 2015-16 ( Data contents)

2. http://www.business-standard.com/article/economy-
Also, included in the list are government insurance
policy/govt-to-start-selling-crop-insurance-policy-at-post-
schemes such as Pradhan Mantri Jeevan Suraksha Bima offices-cscs-117052500860_1.html
Yojana (PMJSBY) without any limit on Sum Insured. The
3. How to enhance insurance penetration in rural market -
Common Services Center (CSC) Scheme is a part of the
Opportunity and Challenges: Garima Gupta & Others.
ambitious National e-Governance Plan (NeGP). The Village
4. http://www.governancenow.com/news/regular-story/
Level Entrepreneur (VLE) can register and get detailed
cscs-sell-insurance
information on how to avail online government services
5. https://india.gov.in/services-portal-common-services-
offered by the Central and State Governments.
centres-scheme
IRDA in order to expand the penetration of insurance 6. http://www.financialexpress.com/industry/banking-
products and services market in the rural India through finance/now-purchase-travel-home-insurance
CSCs had appointed CSC SPV as an intermediary. In the 7. http://indianexpress.com/article/india/india-news-india/
guidelines issued, IRDA permitted both Life and Non Life govt-to-set-up-1-lakh-common-service-centres-in-rural-
Insurers in India to market certain categories of Retail areas-
Insurance Policies and services through the network of 8. https://www.csc.gov.in/
CSCs. CSC SPV has been issued a license for soliciting 9. Newspapers & Journals

10 November 2017 Life Insurance Today

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