Pacific Anxin Agricultural Insurance's "Innovative Pig Price Index Insurance" has achieved significant results, allowing farmers to take a "reassuring pill" in the price index | Pig | Innovation
At the end of last year, with strong support from all parties, Pacific Anxin Agricultural Insurance Co., Ltd. Shanghai Branch launched the country's first provincial-level policy based pig price insurance product, "Shanghai Innovative Pig Price Index Insurance.". With the continuous low prices of live pigs nationwide this year, this product has played an important role in stabilizing expectations and compensating for market risk losses. Taking a breeding farm in Chongming District as an example, it insured 41300 pigs throughout the year and has received compensation of 1.055 million yuan as of the end of May.
The Shanghai Innovative Pig Price Index Insurance is another innovative measure for the insurance industry to serve rural revitalization. This product closely revolves around the achievement of the regulatory goals of the Shanghai Pig Production Capacity Regulation Implementation Plan. Through linkage with policy based breeding insurance, it forms a combination of "production guarantee+price support", precise compensation helps stabilize production and supply, explores intelligent breeding management models, and strives to stabilize the city's pig production capacity. Among them, the "two-way compensation mechanism" pioneered by Pacific Anxin Agricultural Insurance further enhances the risk resistance ability of breeding entities.
According to the relevant person in charge of Pacific Anxin Agricultural Insurance, after the product was launched, a total of 1.1432 million pigs were covered, with an insurance amount of 915 million yuan, covering Chongming, Songjiang, Jinshan, Jiading, Pudong New Area, and pig farms under Guangming Group in the city.
Next, Pacific Anxin Agricultural Insurance will actively promote the construction of Shanghai's pig industry digitalization service platform project, continuously optimize the service level of Shanghai's innovative pig price index insurance project with the help of technology platforms, accelerate the digitalization development process of the city's pig industry, and further leverage the insurance function to fully serve rural revitalization.