For eight years, Chandrasiri Vanasunder, a small holderfamer
in the Ratnapura district of Sri Lanka, bore the losses
caused by drought and excess-rainfall on his 2-acre tea
estate. But all that begun tochange in 2012, when a sales
representative from Sanasa told him about ‘index-based
insurance’ for tea plants. “As soon as I heard about the
product, I knew that this was a good product. I have suffered
severe losses in the past, and this seemed like a smart idea
to help me prepare for future uncertainty.” Vanasunder’s
judgment proved right, as approximately half -way through
the last season, he received a 1500 (Sri Lankan)rupees
payout to help mitigate his losses from drought.