New India Crop Model

We are pleased to announce the release of our first India Crop Model, a 10,000-year probabilistic insurance loss model developed to facilitate long-term risk management and (re)insurance pricing for all major insured crops.

With approximately 40 million farmers in India covered under the Pradhan Mantri Fasal Bima Yojana scheme (Indian Prime Minister’s Crop Insurance Scheme or PMFBY), the India Crop industry has become a major focus for international (re)insurers.

The model captures multiple extreme weather perils contributing to seasonal crop failure, including drought, flood, heat stress, and tropical cyclone damage, to produce annual expected losses for Indian states and districts.

This enables better (re)insurance pricing and rate analysis, as well as an understanding of the Probable Maximum Loss from low frequency, high severity seasons, and the ability to manage portfolio structures long-term.

Developed with collaboration from (re)insurance industry partners and covering both growing seasons in India (Kharif and Rabi), the JBA model uses unique physical crop modelling techniques to simulate historic crop yields using current farming practice.

The India Crop Model is available in JCalf® (JBA’s own Probabilistic Loss Software Platform) or can be accessed through portfolio analysis services offered by JBA.

For more information about the model, get in touch via the form below, check out our Executive Briefing or read our blog.

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