IBISA’s climate insurance solution shields dairy industry from heat waves
IBISA, an Insurtech pioneer headquartered in Luxembourg, announced the launch of its latest innovation - the Heat Stress Solution.
In response to the significant decline in milk yield, estimated at 30-35% during severe heat waves, IBISA’s Heat Stress Solution utilizes advanced climate metrics and satellite technology to provide vital protection for dairy farmers. By oering compensation for revenue losses incurred due to heat stress, this solution serves as a lifeline for dairy farmers across India.
As an Insurtech rm, IBISA collaborates with local insurers, providing comprehensive support in insurance risk modelling, design, assessment, and technological infrastructure, ultimately enabling insurers to underwrite and deliver tailored insurance products eciently, said a release.
Since its introduction in 2024, the Heat Stress Solution has already safeguarded over 100,000 livestock within a mere fortnight, spanning 14 districts in Kerala.
Notable bene ciaries include farmers associated with the Trivandrum, Malabar, and Ernakulam Regional Co-operative Milk Producers’ Unions (TRCMPU, MRCMPU, and ERCMPU respectively). The product is currently operational in select districts of Maharashtra, Uttar Pradesh, Madhya Pradesh, Rajasthan, and Gujarat.
Balachandran M.K., IBISA’s Head of Growth for Asia, said, “The surge in our solution’s adoption is a clear indicator of the heightened awareness and demand for such protective measures amidst climatic adversities.”
The product is currently operational in select districts of Maharashtra, Uttar Pradesh, Madhya Pradesh, Rajasthan, and Gujarat. IBISA anticipates expanding its reach in the coming months through collaborations with multiple milk unions and key partners within the dairy value chain.
Through strategic collaborations and grassroots awareness initiatives, IBISA aims to rede ne India's agri-insurance landscape, empowering farmers to navigate climate uncertainties eectively.