Advance Market Analytics published a new research publication on “Global Crop Weather Index Insurance Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Crop Weather Index Insurance market was mainly driven by the increasing R&D spending across the world.
Some of the key players profiled in the study are:
Zurich Insurance Group (Switzerland), Chubb (Switzerland), AXA (France), Swiss Re (Switzerland), ICICI Lombard (India), HDFC ERGO (India), Farmers Mutual Hail (United States), QBE Insurance Group Limited (Australia), Sompo Holdings (Bermuda), OKO Insurance ( Luxembourg), Blue Marble Microinsurance Limited (United Kingdom) and Crop Risk Underwriting Pty Ltd (Australia)
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Scope of the Report of Crop Weather Index Insurance
Crop weather index insurance is the insurance coverage that aims at mitigating the hindrances and hardships of the insured farmers against the heavy financial loss due to anticipated crop loss/uncertainty emerging from adverse weather conditions such as wind, temperature, rainfall, humidity, etc. This type of insurance is yield based policy appropriate to compensate the farers’ losses due to production problems, it covers major weather perils, sharecroppers, tenant farmers, and risk period. This insurance can be structured to protect against the potential index deviations affecting crop loss. A certain amount of indemnity is paid every time the realized value of the index exceeds a pre-decided threshold. As the weather conditions globally are changing frequently with growing environmental problems the market for crop weather index insurance will see a boost during the forecasted period.
Latest Market Insights:
On 11th August 2020, Hillridge Technology has signed a technology agreement with Crop Risk Underwriting to bring Weather Index Insurance to Australian farm gates. With this deal, farmers can now buy Weather Index Insurance for as little as USD1,000, putting it within reach of thousands of Australian farmers for the first time.
On 16th August 2021, Blue Marble, an insurtech delivering affordable insurance protection programs to benefit low-income families and small businesses in emerging markets, announced that it has launched a first-of-its-kind weather index insurance pilot program for smallholder farmers in rural Pakistan. The pilot program, which will cover 500 farmers, is organized in partnership with Asia Insurance, a local insurer, and Reap Agro, a Pakistan-based microfinance organization that specializes in lending to smallholder farmers.
“Corn farmers who “split-apply” nitrogen now have another option for insurance coverage. The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) announced the details of its Post Application Coverage Endorsement (PACE) in certain states for non-irrigated corn, providing coverage for producers who use this practice that saves producers money and is considered better for natural resources. This new crop insurance option builds upon RMA’s efforts to encourage the use of conservation practices, including cover crops.”
The titled segments and sub-section of the market are illuminated below:
by Type (Crop-Hail Insurance, Multiple Peril Crop Insurance (MPCI)), Application (Individual Farmer/Sharecroppers, Agricultural Institutes), Crops (Major Food Crops {Cereals, Millets & Pulses, Oilseeds), Commercial / Horticultural Crops), Coverage (Crops Covered {Seasonally}, Weather Perils {Localised Calamities}, Risk Period {Sowing/Planting/Germination risk})
Growth Drivers
Changing Weather/Environment Conditions Globally
Need for Mitigating the Huge Losses and Hardships for Farmers and Sharecroppers Against the Crop Failure Due to Weather
Roadblocks
Problems in Some Underdeveloped Countries and Region to Implement the Crop Weather Index Insurance Affectively
Opportunities
Introduction of Various Government Initiated Programs for Crop Weather Index Insurance for Tabilising the Farmer’s Income
Adoption of New Technologies in Agriculture Sector for Improved Production of Crops will Boost the Crop Weather Index Insurance Market
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Crop Weather Index Insurance Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Crop Weather Index Insurance market
Chapter 2: Exclusive Summary – the basic information of the Crop Weather Index Insurance Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Crop Weather Index Insurance
Chapter 4: Presenting the Crop Weather Index Insurance Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2016-2021
Chapter 6: Evaluating the leading manufacturers of the Crop Weather Index Insurance market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2022-2027)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, Crop Weather Index Insurance Market is a valuable source of guidance for individuals and companies.
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