IBISA appoints Indian leaders to expand dairy climate insurance
Singh will oversee IBISA India’s strategy and work with insurers, reinsurers and brokers as the company develops its offerings in climate-exposed sectors. He has more than 18 years of experience in agricultural insurance, reinsurance and parametric insurance. Ankur S. will handle business development, commercial expansion and distribution partnerships.
IBISA has operated in India since 2019. Its Ushma Kavach product, which covers heat stress among dairy farmers, has reached nearly 100,000 farmers, according to the company. The programme is part of IBISA’s effort to provide financial protection linked to measurable climate conditions.
India’s dairy industry supports millions of rural households that rely on milk sales for regular income. Higher temperatures and extended heatwaves can reduce animals’ feed intake, affect their health and lower milk yields. Farmers can also face higher spending on water, cooling equipment, veterinary care and other livestock-management measures.
Parametric insurance uses predefined indicators, such as temperature thresholds or other recorded weather conditions, to establish when a payment is due. It does not depend solely on an individual assessment of damage. Under the terms of a policy, this structure can simplify claims processing, although a payout is triggered only when the specified conditions are met and may not cover every loss suffered by a farmer.
IBISA said its expanded leadership team would strengthen industry partnerships and broaden access to climate-focused insurance products. The company’s stated partners include insurers, reinsurers and brokers, while potential distribution channels across the dairy value chain include cooperatives, milk-producer organisations, livestock-service providers and rural financial institutions.
The company’s announcement also identified several conditions affecting the use of such products: affordable premiums, dependable weather data, appropriate policy triggers and clear explanations of exclusions and payout rules. It said coverage could be combined with measures such as improved animal housing, clean-water access, heat-stress management and veterinary services.
