Case Analysis Of Rice Weather Index Insurance In Guoyuan Agricultural Insurance Co.,ltd

Anhui is one of the main rice-producing areas,and the annual rice sown area and yield are at the forefront of the country.Due to the complex and diverse terrain and changing climate in this region,with the frequent occurrence of extreme weather in recent years,various types of natural disasters have varying degrees of impact.Impact on rice growth.When agricultural insurance is used to make up for the loss of rice yield,traditional agricultural insurance has many disadvantages.For insurance companies,there are problems such as difficult investigation and determination of losses,complex claims procedures,high management costs,moral hazard and adverse selection;For farmers,the level of protection provided by this type of insurance after the rice disaster is low and cannot compensate for their economic losses.With the transformation and upgrading of agricultural insurance in recent years,various policies have been introduced to increase support for innovative agricultural insurance products.Driven by the government's preferential policies to reduce taxes or subsidies,some insurance companies have implemented weather index insurance,which brings total social benefits much higher than total social costs,greatly improving farmers' insurance enthusiasm,and obtaining better social feedback.Guoyuan Agricultural Insurance Co.,Ltd.was the first company to implement such insurance products and achieved more results.As a professional agricultural insurance company in Anhui Province,the company has underwritten most of the agricultural insurance business in the province.The development and promotion of index insurance products are in an important position for many domestic property and casualty insurance companies.This article takes Anhui Province's largest agricultural crop,rice,as an example,and combines the development of rice weather index insurance in recent years to conduct a case study and analysis.After combing the company's business development status and the main content of the product contract,it starts from the company itself.,Farmers,and government from three perspectives to evaluate the effectiveness of their business results.In addition,combined with the success of the weather index insurance of the United States Climate Corporation and the British Basis Corporation,it gave relevant guidance to Guoyuan Agricultural Insurance Company.Finally,this article puts forward suggestions from multiple perspectives,including data perfection,technical team building,main risk diversification,and sales channel expansion,in the light of current problems in the development of Guoyuan's business.Reduce the basis risk and system risk,make the rice weather index insurance loss compensation more in line with the actual losses of farmers,and effectively protect the economic benefits of the majority of farmers.