India: Aquaconnect – Alliance Insurance Brokers partnership to provide insurance to 1.5 lakh shrimp farmers

For providing an insurance program for some 1.5 lakh shrimp farmers across India, Aquaconnect has joined hands with Alliance Insurance Brokers, with an aim to boost the financial inclusion of shrimp farmers.

Notably, the partnership intends to make insurance available for shrimp farmers to overcome weather as well as disease-related challenges.

“We are happy to partner with Alliance Insurance Brokers to offer the insurance product that would help farmers mitigate the losses in shrimp farming,” Rajamanohar, CEO and Founder at Aquaconnect, pointing out that losses due to disease are the biggest impediments to further growth of the aquaculture sector.

“Aquaculture farming and the Seafood industry being a niche sector, we have developed a strategic partnership with Aquaconnect to help farmers and seafood industry clients to mitigate the risk,” said Aatur Thakkar, Co-founder, Alliance Insurance Brokers.

“Seafood industry is projected to be in excess of Rs 50,000 cr, our focus is to bring tailor-made solution and try to structure a long-term sustainable insurance solution to this sector,” Thakkar added.