Emerging Project Lessons
Contrary to previous concerns, the RFID driven cattle product is well accepted by clients. According to CIRM client satisfaction survey of 180 farmers who benefited either from the RFID or traditional product, 90 per cent of RFID product clients were very satisfied with the product while 81 per cent of traditional clients declared high satisfaction. By and large, the cattle owners are accepting the new technology as the enrollment and claims processes are clear, and despite previous concerns, the technology does not increase stress for cattle.
RFID technology and new process improved access to productas clients now enjoy doorstep service, and do not need to go some place else to enroll or to make a claim. The satisfaction survey proves that farmers understand the product well enough to benefit from it.
RFID chips and related processes improved claims experience of cattle insurance clients. All farmers who claimed were satisfied with the process. Most claims are processed within a one month period as opposed to earlier when claim settlement could take up to six months. This has happened because earlier, the ear tags were sent to the insurer. Now IFFCO-Tokio field staff goes to the field within six hours of notification to validate the claim and read the RFID chip. The information is then transferred to a claims department, who are also more likely to respond to claims quickly as they trust the technology and claims process. Previously, the claims department was slower to process cattle claims as it had doubts about whether the claims were genuine.
Date of last Learning Journey update: September 2012