Index Based Crop Insurance Product Design and Ratemaking : The Case of Modified NAIS in India

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dc.creatorClarke, Daniel J.
dc.creatorMahul, Olivier
dc.creatorVerma, Niraj
dc.date2012-03-19T17:29:29Z
dc.date2012-03-19T17:29:29Z
dc.date2012-03-01
dc.date.accessioned2026-07-01T00:47:44Z
dc.descriptionDesigning and rating insurance products requires both science and judgment. In developing and emerging economies, actuarial procedures must be robust and implementable, as well as offering a sufficient degree of transparency and flexibility so as to allow expert judgment to be incorporated. This paper outlines an approach to designing and rating a portfolio of index insurance products that uses both temporal and spatial aspects of the data to increase the efficiency of statistical estimates. The approach has formed the basis for the design and ratemaking methodology implemented by the Agriculture Insurance Company of India for the modified National Agricultural Insurance Scheme, which was initiated by the Government of India in late 2010.
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dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120305111024
dc.identifierhttps://hdl.handle.net/10986/3271
dc.identifierhttps://doi.org/10.1596/1813-9450-5986
dc.identifier.urihttp://hdl.handle.net/123456789/411110
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 5986
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCIDENT
dc.subjectACTUARIES
dc.subjectADMINISTRATIVE COSTS
dc.subjectADMINISTRATIVE EXPENSES
dc.subjectADVERSE SELECTION
dc.subjectAGGREGATE COST
dc.subjectAGRICULTURAL INSURANCE
dc.subjectAMOUNT OF RISK
dc.subjectAPPLICATIONS
dc.subjectBUDGETING
dc.subjectCAPITAL MARKET
dc.subjectCLAIM
dc.subjectCLAIM PAYMENT
dc.subjectCLAIM PAYMENTS
dc.subjectCONFIDENTIALITY
dc.subjectCOST OF CAPITAL
dc.subjectCOVERAGE
dc.subjectCREDIBILITY
dc.subjectCROP INSURANCE
dc.subjectCROP INSURANCE SCHEME
dc.subjectDEGREE OF TRANSPARENCY
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDISASTER
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RISK
dc.subjectDROUGHTS
dc.subjectEMERGING ECONOMIES
dc.subjectEXTREME EVENTS
dc.subjectFARMER
dc.subjectFARMERS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL SECTOR
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGOVERNMENT SUBSIDY
dc.subjectGRACE PERIOD
dc.subjectHOLDING
dc.subjectINCOME
dc.subjectINDEMNITY
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE CONTRACT
dc.subjectINSURANCE POLICY
dc.subjectINSURANCE PRODUCT
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE PROGRAM
dc.subjectINSURANCE PROGRAMS
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BEST PRACTICE
dc.subjectJUDGE
dc.subjectJUDGMENT
dc.subjectLANDSLIDES
dc.subjectLIABILITY
dc.subjectMARKET PRACTICE
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMORAL HAZARD
dc.subjectOPPORTUNITY COST
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPREMIUMS
dc.subjectPRIVATE INSURANCE
dc.subjectPRIVATE INSURANCE COMPANIES
dc.subjectPRIVATE REINSURANCE
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPROFIT MARGIN
dc.subjectPROGRAMS
dc.subjectRATES
dc.subjectREGULATORY REGIMES
dc.subjectREINSURANCE
dc.subjectREINSURANCE MARKETS
dc.subjectREINSURERS
dc.subjectRESERVES
dc.subjectRISK CAPITAL
dc.subjectRISK MANAGEMENT
dc.subjectRISK SHARING
dc.subjectRISK TRANSFER
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT OF CLAIMS
dc.subjectSOLVENCY
dc.subjectSOLVENT
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTECHNOLOGICAL CHANGES
dc.titleIndex Based Crop Insurance Product Design and Ratemaking : The Case of Modified NAIS in India

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