FINSTAC
India
Developed by Upaj, Finstac is a mobile app and web based agri-insurance platform which reimagines climate and financial resilience in agriculture. It leverages data to build customized, affordable insurance solutions for farmers including crop, cattle, motor, livestock, and fishery insurance. The platform is powered by DigiFasal, India's first DIY insurance platform for farmers, accessible through the Upaj App or APIs. Finstac combines a digital platform with a physical network of agents to ensure widespread accessibility across India.
Digital Solution (DS) Category
Digital Agriculture
Digital Finance
Digital Solution Type (sub-category)
AI-Big data based solutions, Farm management services
Financial services and credit
Delivery type (format)
Artificial intelligence (AI)
Mobile app
Web based platform
DS supplier-user category
Business to business
Business to consumers
Type of entity (ICT developer-supplier)
Agritech company
Name of supplier/developer
Upaj
Primary Users
Farmers , Agribusiness / private company
Digital Solution Development Stage
Commercial stage (widespread use nationally)
Number of users or subscribers
Network of over 2000+ POS agents and Paravets Source: https://www.upaj.org/finstac
Measurable positive impact(s) by Digital Solution (DS) on target users and/or audience
Presence in 28 states in India Offers micro-insurance solutions Enables swift customization of insurance products Reduces insurance premiums through optimized perils and triggers Safeguards farmers from crop losses due to extreme weather events with swift claim settlements Source: https://www.upaj.org/finstac
Digital Solution Geographic scope
India
Name of Digital village(s), districts, communes where DS is used/deployed
On-line resource links (Web-page links, links to videos, links to reports, etc)
DS Links to FAO, UN and other Development agencies projects, initiatives and programmes