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Image used for representation Kshema General Insurance has raised $20 million capital infusion from the Green Climate Fund (GCF) to expand insurance coverage. The fund is the world’s largest climate-focused investment vehicle established under the Paris Agreement. The project, titled Harnessing Insurance for Climate Resilience in Indian Agriculture, is GCF’s first investment in a microinsurance initiative, which will be used for protecting smallholder and marginal farmers from climate-induced losses, according to Kavita Sinha, Director of GCF’s Department of Private Sector Facility.The funding will help Kshema scale up coverage for uninsured farmers, who make up 86% of country’s agricultural population and increase capacity to underwrite crop risks linked to climate volatility. Apart from insurance expansion, Natraj Nukala, founder of Kshema General Insurance. said that the investment will also help in expanding Kshema Cognitive Engine, the company’s proprietary technology platform which is designed to deliver customised insurance solutions and advisory services such as weather alerts, crop health insights.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onKshema General InsuranceGreen Climate Fundclimate resiliencemicroinsurance initiativesmallholder farmersIndian agriculture insuranceKshema Cognitive Enginecapital infusioncrop risks (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onKshema General InsuranceGreen Climate Fundclimate resiliencemicroinsurance initiativesmallholder farmersIndian agriculture insuranceKshema Cognitive Enginecapital infusioncrop risks(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
