AgroStar, an online agri-input vendor, has launched a 'Kisan Raksha Kavach,' a personal accident group insurance programme for farmers, to provide financial protection against the uncertainties of accidental death and disability caused by an accident.
According to the program's terms, a farmer who purchases Agri inputs through the AgroStar App will receive a free 2-lakh personal accident insurance policy, the company said in a statement.
Care Health Insurance and GramCover have collaborated to launch the group insurance programme. This group insurance policy is insured by Care Health Insurance, and GramCover is facilitating the process digitally.
More than 50 lakh farmers in the country rely on AgroStar for farm advice and access to high-quality, unique agricultural products. The group insurance cover has been introduced after several interactions with farmers.
According to AgroStar, several farmers using the AgroStar App have begun to reap the benefits of the programme, which has sparked a lot of interest among farmers. In fact, within a month of its launch, this programme had already reached over ten thousand farmers.
"Along with our existing value propositions, the Kisan Raksha Kavach programme has been introduced on the AgroStar App to provide personal security to our farmers, which will safeguard them and secure their families," said Shardul Sheth, Chief Executive Officer of AgroStar.
“We are confident that this programme will improve the lives of our farmers while also strengthening our trust and relationship with them."
"The embedded insurance programme introduced on the AgroStar app gains significance because it provides a fixed benefit to the farmer as a Value Added Service (VAS) proposition in case of the untoward event of accidental death or disability. The company wants to help the farming community by creating contextualized covers and delivering them in a seamless manner by leveraging technology during the customer onboarding and claims settlement processes," said Dhyanesh Bhatt, Co-Founder & Group CEO, Gramcover.
