Kshema’s flagship crop insurance plan Sukriti now available in 20 states & 2 UTs

Hyderabad, May 28th, 2024: Kshema General Insurance Limited, today announced the availability of its flagship crop insurance product Sukriti along with Prakriti in 20 states and two union territories of India. Farmers, who contribute almost 15% to India’s GDP, can protect their crops as the all-important Kharif sowing season gets underway with the onset of the Monsoons.

Kshema Sukriti’s wider reach is a boon for farmers and their family members with insurable incomes They can register for free and buy the crop insurance policy for only Rs 499 per acre to protect their crops. Farmers can log in to the Kshema app to buy Sukriti in a few easy steps which is India’s first and only customisable crop insurance product. Sukriti gives farmers the option of choosing a combination of one major and one minor peril from a predetermined list of nine perils. The flexibility ensures farmers choose the combination of perils which is most likely to affect their crop based on climate, region, location of their farm, historical pattern etc. The perils covered are cyclone, inundation (not applicable for hydrophilic crops), flood, hailstorm while the minor perils include earthquake, landslide, fire due to lightning, animal attack (monkey, rabbit, wild boar, elephant) and damage due to aircraft.

Sukriti is now even more enticing as farmers and their family members with insurable income can protect over 100 seasonal crops by buying Sukriti from the comforts of their home using the app. Sukriti’s covers more crops than any other insurance scheme or PMFBY. Farmers also have the option of enhancing the sum insured by paying additional premium to safeguard their financial interest while buying Sukriti. Meanwhile, Kshema has made the consumer journey seamless from buying the insurance to even submitting claims on the app.

PMFBY Kshema Sukriti
Yield based index Indemnity based index
Only selected crops are covered More than 100 seasonal crops are covered
Village/Mandal is considered as unit area for insurance Farm area is unit of insurance
Longer claim settlement Speedy claim settlement
Claim settlement by conducting CCEs Technology-based claim settlement

To start with, Kshema is making Sukriti available to 9.40 lakh farmers covering 2.32 million acres of arable land in the first leg of the Kharif season as part of its initiative to make crop insurance more accessible.

Commenting on Kshema Sukriti’s increased footprint, CV Kumar, Chief Underwriting Officer, Kshema General Insurance Limited said, “We are pleased that we could announce the availability of Kshema’s pathbreaking crop insurance offering in more states than ever to coincide with the Kharif season. We are hoping farmers will embrace Sukriti and customise it to their needs to protect their Kharif crops and safeguard themselves from income shocks. It is our mission at Kshema to build financial resilience among farmers as extreme climate events are becoming more frequent and intense, disproportionately affecting the livelihood of farmers.”

The pioneering crop insurance product Sukriti is now available in Uttar Pradesh, Madhya Pradesh, Maharashtra, Rajasthan, Punjab, Haryana, Himachal Pradesh, Uttarakhand, Sikkim, Meghalaya, Assam, Arunachal Pradesh, Manipur, Mizoram, Nagaland, Tripura, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, and the Union Territories of Puducherry and Andaman & Nicobar Islands.

Meanwhile, Kshema has also appointed Point of Sale Persons (POSPs) in the aforementioned states and union territories for those farmers who need assistance at any stage during the process. Farmers can easily contact the POSPs by calling the helpline number for an in-person meeting.

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