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IFMR Trust - Announcements - Redefining cattle insurance
DNE helped in developing the RFID-backed electronic platform which enables issuance of on-the-spot cattle insurance. “By using the electronic platform, we have been able to eliminate paperwork and slash the time required for issuance of insurance policy,” explains Avishek Gupta of DNE. "While it normally takes 15 days for issuing a cattle insurance policy, we do it immediately."
DNE also handles critical operational aspects of the product, like sourcing RFID components and veterinary drugs, coordinating with local veterinarians for animal registration, assessing the health of animals, and delivery of preventive healthcare facilities at the farmer’s doorstep.
Animal registration is done at the customer’s house. The health status and productivity details of the animals are also recorded using a customised dairy health and productivity management software that enables real-time transfer of data to the insurance company. A detailed history of de-worming, vaccinations and the animal’s health records is maintained using specially developed software. -
IFMR Trust
IFMR Trust is a private trust whose mission is to ensure that every individual and every enterprise in India has complete access to financial services.
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Emissions Software—Are We Ready?
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As the Emissions Monitoring side develops and matures it will naturally leave an area of functionality related to tracking and managing allowances that can be likened to the 'logistical' side of managing Carbon. This area will likely be fertile ground for new players such as IHS but may also be tackled by CTRM vendors.
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Fledgling microinsurance sector attracts insurance interest | Reuters
Most markets in the world remain untapped by insurers. A recent study by Lloyd's of London on microinsurance said around 135 million, or five percent, of low income people in developing countries are using microinsurance products, but the number of potential clients is several times larger -- amounting to 1.5 to three billion potential policies.
To see the full report, click here r.reuters.com/ham85g -
The Hindu Business Line : Potential of mobile banking
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The advocates of a MSP-led mobile commerce list two advantages of the system, namely (i) leveraging the spread agent network (ii) transaction cost. The widespread agent network is an attractive proposition for extending financial services. But does this require that the service is provided by the MSP only?
There is a large network of banks in the country. Cannot this agent network be utilised by banks in partnership with MSPs, for extending financial services? Keeping in view the concerns about money laundering and financial terrorism, we would prefer a partnership where the MSPs gain from the Over The Air (OTA) transaction volume and banks leveraging the channels for wider reach. There needs to be clear distinction of roles. The RBI is exploring a better model.
In this context two successful models of partnership between banks and MSPs observed are — Wizzit in South Africa and G-Cash in Philippines. Wizzit Bank is a virtual bank which is a subsidiary of Bank of Athens in South Africa. It provides the unbanked population in SA with bank accounts on mobile phones which can be used to make person-to-person payments, transfers and pre-paid purchases. Besides, account holders are also provided a Maestro card for cash withdrawal. The MSPs supports this facility as carriers of such transaction instructions.
The Philippines was a pioneer in enabling financial services through mobile phones. The first product introduced in the country was SMART money — a partnership between SMART telecom and Banco de Oro. Subsequently, G-cash a telecom led model was subsequently introduced by Globe Telecom. The country has seen the development of partnership between the mobile payment platforms provided and rural banks there.
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Green Mobile Money Transfer | Mobile-Financial.com
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“The opportunity stems from the fact that India is largely under-banked
or un-banked with approximately 200 million bank account holders. India currently
has 488 million mobile phone subscribers. 88% of Indian financial transactions
are cash driven. Over a period of time, they will move to various electronic
channels with the mobile channel being the only potential mass-based electronic
channel with close to 40% subscriber penetration across India,” added Adiseshann.
Going by present numbers there is a potential need for financial services for
300 million mobile phone subscribers. Step one would be to bring them into the
banking system by offering them a much required, quick, efficient, and secure
money transfer via the Green mobile money transfer service.
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App Store Is a Game Changer for Apple and Cellphone Industry - NYTimes.com
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The popularity of Apple’s app model has reached a fever pitch. Tens of thousands of independent developers are clamoring to write programs for it, and the App Store’s virtual shelves are stocked with more than 100,000 applications. Apple recently said that consumers had downloaded more than two billion applications from its store.
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“Our goal is very simple: We want to have the best platform for applications that there has ever been on any product,” notes Mr. Schiller
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