Dr.Berber Kramer International Food Policy Research Institute(IFPRI), USA will be presenting a seminar on "Innovative Solutions to Agricultural Risk Management: in the context of India's crop insurance schemes" on July 11, 2018 at 4 pm at the Sambasivam Auditorium, MSSRF.
Smallholder farmers in India are increasingly exposed to climate change and extreme weather events. The increased exposure to risk and accompanying agricultural income losses discourage farming households from investing in both productivity-enhancing innovations as well as human capital, affecting growth prospects for existing and future generations. In this context, there is ample scope for innovative risk-management strategies to improve demand for affordable crop insurance and reduce the financial burden of climate change on farmers. The Govt. of India’s flagship national crop insurance scheme – the Pradhan Mantri Fasal Bima Yojana (PMFBY) - takes an important step towards providing affordable and adequate coverage to farmers across the country. However the initiative faces a number of challenges around farmer awareness, and loss assessment. Recent technological advancements offer unique opportunities to improve the crop-insurance products for smallholder farmers in India. In this talk, Dr. Berber Kramer will outline the challenges to crop insurance in India and discuss IFPRI's research on one such solution: “Picture-Based Insurance (PBI)”, a risk management approach that capitalizes on recent advancements in remote sensing, image processing, machine learning, and smartphone ownership.