Reaching the SDG targets simply will not be possible without a strong and sustainable
KMD partners with Governments, regulators, multilateral and bilateral aid agencies on policy framework such as increased access to credit, improved agriculture productivity, reduced vulnerability (insurance) and enhanced social protection.
KMD has developed markets for specific micro (mass) insurance products – covering the entire value chain from feasibility study, data sourcing, marketing support, education services, setting up pilot schemes and industrializing schemes for scale-up.
Policy Advocacy & Consulting Services
KMD advise governments, regulators and aid agencies on policies for agriculture insurance (e.g. financial incentives, premium subsidies, and the overall role of government to promote agriculture insurance) and on development of effective insurance products.
KMD’s consultancy services on the rural and micro insurance platforms is aimed at new product formulations, need assessment, comprehensive survey reports, project management, service delivery, claims servicing, negotiation of renewal terms and conditions, risk management and operational management solutions.
The team has unparalleled experience in ensuring that the insurance programs/ schemes are well accepted in terms of design and pricing by the clients, local insurers (underwriters) and the top reinsurers of the world. With the advantage of having worked with all the major reinsurance players, there is an extensive industry and (re)insurance market knowledge base throughout the team covering broking, placement, claims, market and technical support.
Developing Innovative Products & Solutions
KMD is specialized in structuring and originating tailored insurance solutions to mitigate the effects of adverse weather, climate change, and natural catastrophes.
The Structured Solutions Team at KMD uses the principles of Human Centered Design to ensure the design of the insurance solutions (features and risk coverage) are needs-based, adjusted to the local content (especially the target segment), and linked to comprehensive risk management strategies. The broad objective for using the HCD principles is to
Design insurance products that are nationally and locally driven and owned, are tailor-made to the local context, and provide reliable and demand-based coverage;
Build on natural aggregators which have established successful delivery mechanisms that are efficient and cost-effective;
Ensure the inclusive, meaningful and accountable involvement of all relevant actors and stakeholders
CROP INSURANCE
Insurance is one of the most effective and efficient risk transfer mechanisms for farmers. The Crop Insurance Scheme will help to soften the inevitable economic blow of natural disaster. KMD has structured climate risk insurance schemes to enhance farmers’ resilience against shocks and build their assets steadily. Climate (Agriculture) risk insurance can play both adaptive and mitigative roles, and has three benefits:
Protective: Insurance acts as a safety net so that when disaster strikes, fast insurance payouts prevent a family from falling into, or deeper into poverty
Promotive: The security afforded by insurance enables people to boost their productivity, building pathways to prosperity
Transformative: Insurance can incentivize and support preparedness and risk reduction for individuals and the whole of society
Our Parametric insurance solutions can help in closing the protection gap
Parametric insurance is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. Weather is one of the simplest parametric triggers as data is readily available from independent third parties and accuracy is improving all the time. The combination of high-resolution satellite technology and more weather stations has made it possible for grids to be recalculated to a few meters square, providing a very high level of accuracy and reliability for farmers and their insurers, no matter how remote the location.
By its nature, parametric insurance brings with it the ability to provide rapid funding for relief, recovery and reconstruction efforts, and so may have the greatest potential impact in countries most dramatically affected by natural perils and where the protection gap is currently large.
Utility of Parametric Insurance Scheme:
broad cover provides wide range of protections
quick pay-outs (typically less than 30 – 45 days)
significantly fewer restrictions and exclusions
guaranteed payout when conditions are met
LIVESTOCK INSURANCE
KMD helps livestock farmers worldwide protect their assets from risks such as mortality, infertility, theft and disease. KMD uses the know-how of industry experts, risk consultants and vets; to assess risks and design fairly priced products.
Utility of Livestock Insurance Scheme:
pastoralists can restock animals lost following a severe drought or epidemics
protect the farmer from loss of income due to death of animal from causes like disease, accident, etc.
insurance policies can be used as collateral to buy food or drugs
insurance policy can also facilitate credit support, as it is the best form of collateral security
Knowledge Management
Our research has shown that providing climate information is one of the most effective ways to help farmers and other investors reduce their risk exposure to such conditions. In line with this, KMD works closely with local meteorological departments in producing four types of climate information — seasonal forecasts, 10-day forecasts, daily forecasts and instant forecasts for extreme events — which are helping farmers better adjust their agricultural management to respond to weather forecasts.
The lessons learnt from various markets are shared through thematic studies and briefing notes. These passive knowledge dissemination methods are complemented with efforts to proactively encourage the adoption of good practices across insurers and channel partners. We are likely to have greater success in changing behaviors and practices through interactive dissemination tools, including conferences and learning workshops at all levels (micro, meso and macro).
For the last five decades, we have been a global provider of insurance and reinsurance brokerage and advisory services. The driving factor of our success is the partnership we share with our clients by keeping their needs and preferences at the core. Our solutions are customized which makes us a cut above the rest.
With a total strength of 350 highly skilled and internationally qualified staff, we have successfully created a competent network across the globe. With decades of experience, we have developed long-standing relationships between top reinsurers internationally and several insurers and reinsurers worldwide.
What sets us apart is our independent market position which has given us the freedom to do what is best for our customers. Having a customer-centric approach throughout our 5-year long stint has kept us thriving.
Above all, we have a team that shares a close working relationship, complementing each member’s strengths and skills.
The Group’s endeavor is to bridge the divide/gap between the world’s insurance markets and the most vulnerable, low-income households through relevant and inclusive micro insurance solutions.
We hope to bring our vision to life with our innovative solutions in the coming years!
50 Years of KMD
K M Dastur enters the golden era!
For the last five decades, we have been a global provider of insurance and reinsurance brokerage and advisory services. The driving factor of our success is the partnership we share with our clients by keeping their needs and preferences at the core. Our solutions are customized which makes us a cut above the rest.
With a total strength of 350 highly skilled and internationally qualified staff, we have successfully created a competent network across the globe. With decades of experience, we have developed long-standing relationships between top reinsurers internationally and several insurers and reinsurers worldwide.
What sets us apart is our independent market position which has given us the freedom to do what is best for our customers. Having a customer-centric approach throughout our 5-year long stint has kept us thriving.
Above all, we have a team that shares a close working relationship, complementing each member’s strengths and skills.
The Group’s endeavor is to bridge the divide/gap between the world’s insurance markets and the most vulnerable, low-income households through relevant and inclusive micro insurance solutions.
We hope to bring our vision to life with our innovative solutions in the coming years!
Educational Background: Bachelor Of Commerce (B.com), Bachelors In Law (L.l.b). Fellow Of Insurance Institute Of India
Work Experience: Full-Time Employee Of Kmd Since 2002.
Vaibhav Jain has over 33 years of professional experience. Heads the following Departments in KMD
Structured Solutions
Rural & Micro Insurance
Agriculture (Re)Insurance
Compliance
Legal
He is Involved in structuring of Insurance and Reinsurance solutions as well as developing new business opportunities for local and global clients. Has conducted number of studies and participated in various National and International seminars. Visiting faculty to National Insurance Academy, Pune Joined GIC in 1987 and held different positions at various levels till 2002.
ERIC K DASTUR
Name: Eric K Dastur
Designation: Whole Time Director & Chairman
Educational Background: Cathedral and John Canon School – ISC.
University of Manchester – U.K. B.Sc. (Hons.) Electronic & Electrical Engineering.
Work Experience:
Schlumberger Technical Services: 1981 to 1995.
Began career in Brunei as an Operating Engineer working both offshore and onshore on exploratory and development operations. In 1984 was assigned to India and set up operations in Assam – Nazira and Andhra Pradesh – Rajamundry, before being appointed as Operations Manager for the Western India operations.
In August 1987 was transferred to Indonesia – Jakarta as Manager for international clients (Exxon, Mobil, Conoco Shell, Arco, Marathon, Kufpec, Maxus etc.) offshore operations until June 1990.
Worked in Personnel Department at the company headquarters, Paris as Worldwide Training, Development and Recruiting Manager. Transferred to India as Head of Indian operations based in Bombay. After 3½ years in India was assigned as head of the Brazilian operations, however chose to join my father in his business.
T. PURUSHOTHAM REDDY
Name: T. Purushotham Reddy
Designation: Wholetime Director And Principal Officer
Educational Background: M.Sc.
Work Experience: Full Time Employee Of Kmd Since 1999. Associate of insurance institute of india
T. Purushotham Reddy has 30 years of experience in General Insurance Industry with insurer and broker. Handled large construction projects and operational insurances. Negotiated direct insurance and reinsurance transaction of power and other infrastructure projects. Issued the first Marine DSU policy in India. Handled large claims of various portfolios of insurance with insurers and reinsurers
Educational Background: Bachelor Of Commerce (B.com), Bachelors In Law (L.l.b). Fellow Of Insurance Institute Of India
Work Experience: Full-Time Employee Of Kmd Since 2002.
Vaibhav Jain has over 33 years of professional experience. Heads the following Departments in KMD
Structured Solutions
Rural & Micro Insurance
Agriculture (Re)Insurance
Compliance
Legal
He is Involved in structuring of Insurance and Reinsurance solutions as well as developing new business opportunities for local and global clients. Has conducted number of studies and participated in various National and International seminars. Visiting faculty to National Insurance Academy, Pune Joined GIC in 1987 and held different positions at various levels till 2002.
KERSI MAKHANIA
Name: Kersi Makhania
Designation: Wholetime Director
Educational Background:Bachelor Of Commerce & Econimics, Post Graduation In General Law, Chartered Accountancy
Work Experience: Full Time Employee Of Kmd Since 1988.
Kersi Makhania has 35 years of total experience in Insurance industry. Joined General Insurance Corporation of India in 1985.
Has been with KMD for more than 32 years and Heads Reinsurance Business.
Guest Faculty at Insurance Institute of India, Mumbai and National Insurance Academy, Pune, India. Subject covered: Reinsurance Underwriting, Rating of Treaties, Proportional and Non Proportional.
