Two insurance industry experts have identified several market segments that are currently under-served by insurers in Bangladesh.
China Pacific Anxin Agriculture Insurance Co (Anxin) has strong capitalisation and low-risk investment portfolio, and the strong support of its parent, China Pacific Property Insurance (CPPIC), notes Moody's Investors Service.
Salaam Takaful, the first Islamic InsurTech company in Pakistan, has launched parametric solutions in the regulatory sandbox administered by the Securities and Exchange Commission of Pakistan (SECP).
India, with a bovine population of 303.7m, is the largest milk producer in the world today. The Indian government's national digital livestock mission aims at a farmer-centric, technology-enabled ecosystem that demands the need for permanent bovine identification to keep track of health, breeding, traceability, insurance, and disease control.
The National Agricultural Mutual Fund (CNMA) aims to increase coverage for breeders and farmers through its new agricultural insurance model, according to the Fund's general manager Cherif Benhabiles.
Non-life insurance companies shall be allowed to provide agriculture insurance. independently or in collaboration with the Philippine Crop lnsurance Corporation (PCIC), the government agency mandated by law to provide crop insurance to small farmers, says the Insurance Commission (IC) in a circular to general insurers and insurance intermediaries which takes effect immediately.
India's rural InsurTech GramCover has raised $7m in Series A fundraise from Siana Capital and Inflexor Ventures.
Philippine Crop Insurance Corporation's (PCIC) weak risk management practices put it at risk of suffering large losses from major catastrophes, which would eventually be shouldered by taxpayers, according to the Philippines department of finance (DoF).
A local specialist insurer is seeking to expand to the agricultural sector, to protect herders and farmers affected by natural disasters such as drought.
The central government will hold talks with state governments on how to restructure the flagship crop insurance scheme, Pradhan Mantri Fasal Bima Yojana (PMFBY), to extend the cover to more farmers.