In this interview Karat Gopinath Head of Rural and Cooperatives for IFFCO-TOKIO, discusses their livestock insurance project. The project, he explains, uses Radio Frequency Identification (RFID) tags so that farmers can insure their livestock in the event they die unexpectedly. RFIDs were introduced by IFFCO-Tokio to control for moral hazard, but as Mr. Gopinath explains, more was needed to reduce fraud. Initially, they provided the RFID tags to the veterinarians and bank managers making the claims, but after realizing that clients were working with the veterinarians and bank managers, IFFCO-Tokio recruited more staff to go out into the field and actually apply the tags themselves.
- Post Time: 02-20-17 - By: http://www.rfidang.com