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Rural Insurance

Insurance companies are looking at the lucrative "grameen insurance" policies. Policies like crop insurance are critical to ensure that villagers do not get trapped in the debt cycle. The rural folks are not insurance conscious and are more concerned with saving rather than securities as they feel that destiny will decide their fate.

Figure: The Rural Insurance Opportunity

Electronic means, micro finance are effective ways to create awareness amongst villagers about the benefits of insurance while creating profit opportunities for company as well. The problems of insurance companies are similar to that of banks, which were described in previous section. E-Insurance is an effective way reaching greater masses at lower cost, effective delivery of benefit and increasing awareness. Countries like Germany, UK, Australia are already using these means of insurance. This would require appointment of an agent who can sit at the e-kiosk and assess the quality of crops, etc.

Entrepreneurship & Women Empowerment

With effect from June 2005, Bhutan Rural Women Entrepreneurs are connected to the national and international market. Such initiatives can be successful in Indian villages as well. Through the e-business component, rural weavers would be connected to potential markets through the Internet. E-commerce would allow them to produce products based on the markets' needs and demands. E-business can provide information to potential customers about the available handicraft products. The weavers, especially women, would get economic opportunities, capitalizing on their handicraft skills.

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* Contributed by -
Meenal Nigam & Vivek Patni,
NITIE, Mumbai.