1. Vimo SEWA – Asset Insurance SEWAVIMOSEWA

2. The Need Evolved in response to the needs and demands of its members House is not only a roof over the head often it is the place of employment for home based workers There was also a need to protect the work equipments in case of a damage to the house

3. The Product Offers reimbursement for losses suffered due to natural calamities like earthquake, fire etc. Also covers man made calamities like riots, arson etc. Limits for coverage are up to Rs.10,000 to Rs. 20,000, as per schemes chosen

4. Evolution of Asset Insurance 1992 -1997 – We partnered with UIIC and NIA for assets insurance 1998 -2001- SEWA retained the assets portfolio as a mutual, but then the earthquake happened 2002 onwards we have partnered with different insurance companies like ICICI Lombard, New India Assurance and NIC 2006 – Floods in Anand 2007 – Floods in Bihar

5. Claim Processing Claim Intimation – either directly by the member to the Vimo office or through Aagewaan Registration -The claim is registered with documents – esp. a photo of the damaged house, a news report in a local news paper or an FIR Survey of the affected area – To assess the extent of damage and survey of the house affected All the documents and the visit report are put in front of the claims committee

6. Claim Processing Committee may approve, reject or ask for further details If rejected – the member is intimated If approved – the committee decides upon the amount of claim The claim is settled with the member receiving the reimbursement.

7. Loss Assessment Trainings are arranged with insurance company for loss assessment capacity building of our staff. Insurance company's surveyors accompany our aagewaans in field for loss assessment. Training for photography arranged for Aagewaans Criterions/indicators for claim settlement is set through a dialogue with the insurance company as well as with the local team members

8. Claims data Year Total no. of ClaimsApprovedRejectedPayout 20066418607834010425122 200721822088943304441 200811991111881363697

9. Challenges Gujarat is risk prone area Disasters, both natural and human, one after the other between 1999 to 2008 has lead to increase in premiums.(2 cyclones, 4 floods, 1 earth quake, 1 communal violence) STFI had to be excluded. Geographical concentration of members has exposed us to co-variate risks.

10. Challenges The documentation process is difficult as the insurance companies insist on news paper information or an FIR for the loss. Assessment of losses is a challenge. We have seen cases of fraudulent claims in case of a disaster/natural calamity

11. New Features/Products Stock in trade insurance: A lot of our members comprise of street vendors and their stock in trade is exposed to a lot of risks, we are looking at developing a product to safeguard their stock. Livestock insurance: As we expand in Rajasthan, we have received a lot of demand for a livestock insurance products especially for goats.

12. Thanks!