As of July 2010
- Consolidated relevant insurance industry information (contacts, regulation and major players) in order to devise a plan and strategy for the project
- Started gathering data and designed the survey to be used with insurance companies
- Collected data from 16 insurance companies on their rural, social sector and microinsurance business
- Collected data from around 40 intermediaries, including microfinance organizations, trusts and non-governmental organizations
As of March 2011
- Collected and organized data on the rural, social and microinsurance market
- Carried out risk profiling of agricultural crops, by obtaining data from the Indian Meteorological Department at a district level. This will allow greater transparency in pricing for insurers and intermediaries
- Started the development of a comprehensive online database on microinsurance, the MIM
- Carried out a soft launch of the website in the first week of November 2010. The map has been changed and updated several times subsequently
- Decided to collect secondary data, which has been reported to the regulator by insurers, in order to obtain a consistent set of data
As of September 2011
- Began collecting primary data from insurers and intermediaries
- Collected data from 25 MFIs. Many insurers were reluctant to share data
- Designed the concept for the second phase of the website, based on feedback on the existing website
As of February 2012
- Selected a vendor to start work on the back end of the website and the user interface
- Gathered requirements for the scope of work and website functionalities
- Initiated the next phase of website development, and added new functions to accommodate more information and ease of navigation
- Analyzed the information collected from the insurance companies
An overview of the website
Comparing product features
The website can be used to compare the most important features of products. This is a useful tool for users who want to take decision on which product best meets their requirements.
Screenshot of a product comparison of micro life insurance products registered with IRDA

Comparing business performance across geographies
The graph below shows the number of policies issued by SBI Life Insurance Co. in the year 2009-10 across different states. The comparison shows that SBI Life insurance Co. has most of its rural business in Andhra Pradesh, Kerala, Maharashtra, Tamil Nadu and Orissa.
Screenshot of the number of policies issued by SBI Life Insurance Co. in major states (2009-10)

Comparison across products of the same organization
The two major life insurance products offered by LIC are Jeevan Madhur and Jeevan Mangal. While Jeevan Madhur was introduced as a microinsurance product in 2006, the Jeevan Mangal product was introduced in 2009. Based on the graph below it can be inferred that from 2006 to 2008, the Jeevan Madhur policy grew, but it has issued fewer polices in consecutive years with the introduction of Jeevan Mangal in 2009.
Screenshot of the number of policies issues by LIC’s Jeevan Madhur and Jeevan Mangal products from 2006-07 to 2011-12

Comparison of policies issued in different states
The graph below showcases the spread of the RSBY scheme across Indian states for 2010-11. It shows that Uttar Pradesh has the maximum penetration among those below the poverty line. The other major states where this population is benefitting are Kerala, West Bengal, Haryana, Maharashtra and Haryana.
Screenshot of the number of policies issued by RSBY across all states in India

Tracking product growth over time
The graph below indicates the growth of the National Agricultural Insurance Scheme (NAIS) and the Weather Based Crop Insurance Scheme (WBCIS), offered by the government run insurance company, the Agriculture Insurance Corporation of India. NAIS has shown almost a constant growth from 2004-05 to 2008-09, with a sudden increase in total number of polices issued in 2009-10.
Screenshot of the number of policies issued under NAIS and WBCIS agriculture schemes over time
