Page 245 - India Insurance Report 2023- BIMTECH

India Insurance Report - Series II 233

4. Section 3

4D.1 : In-season Crop Yield Loss Assessment

For the government as well as insurance industry it is important to keep track of disaggregated crop
conditions and losses on a real-time basis. It serves several purposes such as satisfying demands from
reinsurance industry about the probable losses, targeting of CCEs for better loss assessment, making
informed decisions and planning for claim volume, and better preparedness for settling claims after crop
harvest. Such information is also very useful for making mid-season on- account payments to the insured
when they need compensation the most rather than waiting for the claim settlement after the harvest of
the crop.