Agriculture Insurance Company of India Limited
Introduction
Agriculture Insurance Company of India Limited is a public sector attempting headquartered out of New Delhi, India. It currently offers area based and weather based crop insurance programs in almost five hundred districts of India. It covers almost 20 million farmers, construction it one of the biggest crop insurers in the world. AIC was integrated under Indian parties Act 1956 on 20th December, 2002 with an approved share capital of INR 15 billion and paid up Capital of INR 2 billion. AIC commenced business from 1st April, 2003.
Offices
AIC has 17 zone Offices distributed across India. AIC sells various agriculture and allied insurance products and schemes. A substantial amount of business is derived out of National Agriculture Insurance Scheme.
Insurance Schemes
Agriculture Insurance Company of India Limited (AIC) is a Company set up to distribute insurance security over agriculture and allied activities
1. Weather Based Crop Insurance Scheme (WBCIS)
2. Bio – fuel Tree/ Plant Insurance Policy
3. Wheat Insurance
4. Mango Insurance
5. Varsha Bima
6. Coffee Insurance
7. Rubber Insurance
Project AICNET
In September 2007 AIC released a tender which wooed consultancy for a comprehensive technology solution to automate operational aspects of its business. The tender papers also focused on using business analytics extensively.