Page 7 - Insurance Times January 2023

ing, which specialises in behavioural
ICICI Lombard ties up with AU Small Finance Bank science.
ICICI Lombard General Insurance has entered into a bancassurance tie-up "Farmers can be told not to pay any-
with AU Small Finance Bank. thing right now. When they are har-
The partnership will provide the bank's customers access to the insurer's vesting the crop, if there is any dam-
portfolio and enhance penetration across India. age, let the insurance firm look at what
the yield is.
AU Bank is rapidly expanding its distribution footprint across India and the
tie-up will further enrich its general insurance offering with digital and
Maharashtra asks insur-
paperless solutions offered by ICICI Lombard.
ance firms to take cogni-
The entire suite of products will be offered across 980+ banking touchpoints
spread over 20 States and 2 Union Territories. The customer centric products zance of farmers' claims
will provide long-term financial security to customers and their families. The Maharashtra government has
asked crop insurance companies to
Sanjeev Mantri, Executive Director, ICICI Lombard, said, "As an industry
take cognizance of complaints by farm-
leader, we are excited to partner with AU Small Finance Bank in providing
ers and warned that the State will ini-
customers a comprehensive product portfolio. This partnership will help fur-
ther strengthen our distribution and unravel growth opportunities through tiate action against companies denying
insurance claims to eligible farmers.
the bank's wide network."
On the other hand, the Union Ministry
of Agriculture has said reports of farm-
scrapped. I have sent this policy of the
15-year old got vehicles
ers getting a paltry sum of insurance
Indian government to all the states.
will be scrapped: Gadkari claims in some districts of Maharashtra
They should adopt this policy at the
Union minister Nitin Gadkari said all state level," he said. are factually wrong, as most of them
vehicles belonging to the Indian gov- are only part claims and not the actual
ernment that have completed 15 years sum received.
Reframe crop insurance to
will be scrapped, and a policy to that Recently, State Agriculture Minister,
effect has been sent to states. He was enroll more farmers Abdul Sattar, held a meeting of officials
speaking at the inauguration of the
The Indian government should reframe of crop insurance companies. He said all
annual 'Agro-Vision' agriculture exhibi- eligible farmers must get insurance
the crop insurance contract with farm-
tion here. claims. The minister called for the meet-
ers so that they can pay the premium
"I signed a file under the guidance of at the time of harvest. This will help ing after farmer organizations claimed
Prime Minister Narendra Modi that all enroll more growers in the Pradhan that insurance companies were denying
the vehicles of the Indian government Mantri Fasal Bhima Yojana (PMFBY), insurance claims and many farmers had
which have completed 15 years will be says a top official of Terragni Consult- received paltry sums.

The Insurance Times January 2023 7