1. Insurance Services at BASIX

2. BASIX Vision in Micro Insurance
All poor households, especially those served by BASIX, will have access to risk-management services covering their lives and livelihoods, and insurance providers and BASIX will provide these services on a financially sustainable basis.

3. Risks covered by BASIX Risks to Crops Risks to Life Death Disease
Disability
Risks to Livestock
Risks to Enterprises

4. Business Partners BASIX With AVIVA Since:2002 In Life Insurance
Royal Sundaram
In Health, Livestock and Enterprise Insurance
ICICI Lombard
Since:2003
In Weather Index insurance
BASIX
Equity for Equity

5. Inputs for products and processes
Business Model
Offer products
Distribute Insurance
Insurer
BASIX
Rural Customer
Inputs for products and processes
Feedback on needs

6. Lives/ Assets under cover as on
Outreach
Products
Lives/ Assets under cover as on
31-MAR-09
Life
1,079,539
Health
Livestock
67,440
Non Farm Enterprises
48,095
Weather Index –
for agriculture
8,894

7. Products Insurance Cover Insurance Partner Scope of Cover 1
Life Insurance
AVIVA
Group-Death of spouse and borrower(1.5 times loan amount)
Retail- Cover between 20k-100K 2
Health Insurance
Royal Sundaram
Hospitalisation(Rs.1.5K p.a)
Critical illness (Rs 10K p.a)
Accidental disability( Rs 25K p.a) 3
Livestock Insurance
Death- Cover from 5K – 20K 4
Enterprise Insurance
Cover against fire and other natural calamities 5K-200K 5
Weather Insurance
ICICI Lombard
Deficit or excess rainfall and temperature

8. New Products NEW PRODUCTS: Term Life Term Life with premium return
Endowment
Health Retail policy
Motor Insurance
Micro Pension

9. Claims Cumulative claims as on March 31,2009
No of claims
Settled amount
(in Rs. Million)
Life
5,620
85.90
2,975
44.46
Health
24,722
32.97
11,554
15.96
Livestock
2,362
18.47
1,411
11.09
Enterprise
101
0.87 25
0.26
Total
32,805
138.14
15,965
71.77
Weather Insurance
5,199
4.35
4,253
3.82
Grand Total
38,004
142.49
20,218
75.61

10. Challenges in Micro Insurance
Cost effective distribution and servicing
Institutional Capacity Building: for micro insurance distribution channels
Awareness creation for the target population
Regulatory Environment
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11. Extending Reach To Difficult And Remote Geographies
States : 15
Districts : 172
Villages : 18,119
HR : 4,063

12. Claims facilitation Claim event (or) e-mail Prepare report and send
BASIX field staff
or Branch
Inform by
Claim event
Customer
informs
(or)
Rural BPO
Visit location
and
investigate
Inform by
Field Facilitator
(and)

13. Thank you