Last week, the Centre for Insurance and Risk Management, IFMR, convened a roundtable on Livestock risk that was attended by all the major stakeholders to talk about the various issues and challenges faced by them in bringing effective risk management solutions to livestock owners. The participants involved all the major insurance companies, NGO like PRADAN, apex institutions like NABARD and NDDB, co-operatives like Amul and DRDA, MFI like SKS Microfinance and international organizations like World Bank, ILO and ILRI among others.
Here are the key highlights of the discussions at the roundtable:
- Lack of dependable information on insured livestock
- Highly specialized service providers catering to a limited range of services
- Limited bandwidth of MFIs to offer livestock registration/healthcare services to its clients
- Difficulty in uniquely identifying livestock and complications in the process
- Need to build awareness on terms and conditions of the insurance coverage and benefits of livestock insurance
- Need to evolve models based on community involvement or TPA
Read the details of the event and the insights of DNE at the DNE section of the IFMR Blog .