A Blockchain-based Insurance solution for Farmers and cultivators

 A Blockchain-based Insurance solution for Farmers and cultivators

Agriculture Sector in India

Farms and crops play a very important role in our country’s economy, and most importantly, it is the occupation of more than 30% of India’s total population. Due to adverse weather conditions like deficit or excessive rainfall, high temperature, humidity, etc., the yield and quality of crops are reduced. The loss due to such conditions has to be borne by not only the farmers but also the country’s economy as the produced crops are the raw material for most of the industries.

Challenges in the Current System:

Dependency on Untrusted mediators: Most of the farmers are either illiterate or don’t have enough education to understand the terms and conditions of the insurance scheme for them. They all are dependent either on brokers or other educated people of their village who usually have some vested interest to make a profit out of these innocent fellows.

Chances of Fraud: Farmers are not aware of the tricks of the brokers and other mediators and advisors. They are not aware of the amount of the claim that gets redeemed in their account or not. Is the amount received correctly as per damage or not.

  • Data Collected

  • Fill Data on Paper

  • Data Fill on Digital Portal

  • Data Check

  • Insurance Approved

Lack of Awareness of Access Rights: Farmers are not aware of the authority they have, from where they can make a check on these records, etc.

Cost Ineffciency: The insurance companies are also not willing to pay without thorough due diligence which is an added cost for the insurance company.

Slow Claim Settlement: The due diligence process slows down the claim settlement process multi-folds. The time taken by the insurance company to settle the claim may even lead to the end of the favorable season for a particular crop.


Taking the right insurance scheme becomes extremely important for farmers. And to conquer the challenges our brainstorming talents have come up with a solution Insurra. We have developed a Blockchain solution through Hyperledger Fabric, an open-source blockchain framework open source by the Linux Foundation. The solution promotes cross-industry collaboration, including a distributed ledger framework, smart contracts, client libraries, etc. Distributed Ledger Technology (DLT) delivers enterprise-ready network security, adaptability, confidentiality, and execution in blockchain architecture.


Insurra had given a tough competition to the existing system. The web portal has eliminated the paperwork in the process. Data will get collected through the web app, and then, entered via the interface to the database. At this stage, blockchain comes into action, and data gets verified. As soon as the insurance company gets the report from the weather forecast, a smart contract will establish the payout process.

It provides a robust solution for traceability of all policies and related transactions to automate claim settlements through authenticated and verified data reports.

Reasons behind using Blockchain

There are various facts for which a blockchain solution is needed in this platform.

Transparency and Immutability

We have come up with the solution on the blockchain, which claims transparency to the users as everything is digitally recorded and maintained and immutability as data stored is regulated by the smart contracts with an audit trail signed by participant’s crypto material

Privacy and Security

We aim at full distributed ledger technology (DMT) for the web on the defined use case. The software should get easily accessed from anywhere with full proof authenticity.


Being an independent web-based platform, we don’t feel any unwanted party should be involved in the process to make a profit out of innocent farmers.

On-time claim settlement

Technology that fastens the financial services is all everyone expects. Blockchain has allowed us to introduce you with the desire.


Single Platform for all Stakeholders

Different User profiles that can be Insurer, Broker, Farmer, and Regulatory Authority (Optional) are participants in the consensus This makes every stakeholder informed about the case

One App across All Devices

The Insurra web app is responsive to all kinds of devices whether Mobile, Web, Tablet, etc.

Blockchain Trail

Following a trail of blockchain for all the stakeholders so that everyone would be able to check every transaction for the policy

Finance Settlement

When all the actions are done through the web, it would become easier in finance settlement. Automatically conversion of claim will be there to proficient the terms.


  • Enhanced Weather Forecasts Data Analytics to show details of each user profile involved in the process. Showcasing the weather details, which can be filtered based upon the region, months, and crop.
  • Automatic Claim Settlement Once a smart contract created cannot get altered with any kind of intervention from any party. Hence, the contract is free from any bias. The claim settlement process is automated and trustworthy too due to smart contracts and the underlying Blockchain layer.
  • Secured DatabaseDetails of all the stakeholders are securely stored in the database and can be referred anytime in the future
  • Paperless ProcessNo need for paperwork when everything is online.

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