ICICI provides weather insurance for Indian farmers

Insurance company ICICI has partnered with Indian based microfinance institution BASIX to pilot the sale of rainfall insurance to farmers in India.

More than two thirds of the Indian workforce is agriculturally based so weather patterns constitute a risk that requires effective management. This partnership offers index-based insurance which have payouts pegged to a particular weather parameter, such as rainfall levels. This does not require individual crop assessment making the insurance more affordable.

Further information


Partnership types

Doing business with the poor

Regions / countries / territories

Asia: India

Global issues

Agriculture, aquaculture and forestry

Business sectors