Role and Prospective Impact of Technological Interventions in the Spread of Agricultural Insurance through PMFBY and Beyond

Abstract

This paper aims to address the issues faced, during the evolution of PMFBY and it’s spread by means of technological advancement. This paper will focus on following points:

• A methodology to use information from satellite based remote sensing to allow improved liability and compliance monitoring and better loss adjustment and claims management.
• Better understanding of the tools necessary to develop damage assessment systems.
• Information on crop stress and damage and risk assessment.
• Reductions of claim settlement period.
• New technical developments such as the combination of IoT devices and multi-sensor satellite or UAV images with different spectral, spatial and temporal resolution.