Deccan Insurance & Reinsurance Brokers Pvt. Ltd.Presentation – Government of Maharashtra

Shetkari Janata Apghat Bima Yojana(Farmers Janata Personal Accident Policy)

Dt 19/20th July 2010

Implemented by : COMMISSIONER AGRICULTURE , MAHARASHTRA

Agenda

• Project

• Past Experience – scheme implementation

• Issues

• New Strategies

• Claim Strategies

• Present Claim Flow Chart

• Deccan Claim Flow Chart

• Deccan’s Set-up

• Deccan’s Claims Servicing Offices

Project

- To provide Insurance Policy to the Farmers of Maharashtra

under the “Farmers Personal Accident Scheme”,

advertised by The Department of Agriculture,

Government of Maharashtra, every year through Govt.

Resolutions.

- No. of farmers to be covered: 1.37 Crs spread through out

state of Maharashtra.

- No. of Districts - 35

Past Experience – scheme implementation

• Scheme in force since 10th Jan 2005

absence of awareness

remote and mofussil areas

delay in communication

delay in submission of documents

Too many documents

Investigation delays

multi layer process

absence of timely response

absence of co-ordination

Claim ratio

IssuesAwareness of the scheme / claim procedure:

Product knowledge to farmers

Exclusions and Inclusions

Claim procedure

Claim documentation

Claim process flow

Timely delivery

Co-ordination

Reviews and Follow up

MIS

Joint Strategies

Alternative Forums

Deccan Insurance Staff PatternOnly for Implementation of Farmers Janata Personal Accident Policy

Registered Office

Mumbai

Corporate Office

Pune

Divisional Office

Incharge 1

Liasioning officer 1

Office Staff 3

Div Claims Incharge 6

Service Staff 6

Insurance Coordinators 6

District Claims Servicing Office

District Claims Servicing Officers 35

(1 in each district)

New Strategies Policy conditions, claim procedure and document list booklet

Online claim procedure system by Broker

Introduction of minutes system of all the review meetings

Mumbai / Pune based Insurance Operating offices

Quarterly training and review meeting at Divisional level of District offices

Appointment of Arbitrator – quarterly meeting – decision binding on all

Stick to timelines

Claim Strategies Average per month claims – 4000 ÷ 35 ÷ 12 = 10 per month

District staff to pro actively coordinate with all for immediate completion of documents and formalities

District staff to co-ordinate between claimant’s family – Government Departments and Divisional offices of Broker

Divisional offices to co-ordinate with Agriculture office / Insurance Company

Deccan’s Set-up & Strength• Insurance Broker licensed by IRDA since 2003; A Pvt. Ltd Company in

business for more than 7 years

• Have Divisional Claims Servicing Offices in all 6 revenue divisions of Maharashtra and claim servicing offices in all the districts of Maharashtra

• Handled prestigious works for such as:

- Personal Accident Policy for 2 lac Police Personnel of Government of Maharashtra including (Naxalite affected areas)

- Group Mediclaim & P. A. Policies of various Organisations.

- Have a very experienced team who have worked in the Industry for decades and social sector through out Maharashtra, including implementation of Sheti Bima Scheme in Maharashtra.

Also, involved in arranging reinsurance for the Government Insurance Companies of India

Offices and Manpower

Deccan Offices:

Registered Office – Mumbai

Corporate Office – Pune

Claims Div Offices – Pune, Amravati, Aurangabad, Konkan, Nashik, Nagpur

Claims Servicing Offices – All Districts of Maharashtra

Capital Strength

- Net Owned Fund: INR 15.6 million

- Estimated premium placement in current

fiscal: INR 650 million

- Estimated brokerage revenue: INR 31 million

- Gross Profit Ratio 23.8%

- Return on Capital Employed 7.3%

Thank You