Digital agriculture firm Farmers Edge has announced a partnership to provide US crop owners with a new insurance scheme using new technology to deliver a range of benefits.
The firm has entered a partnership with insurance agency Premier Crop Insurance, to provide a new scheme for insurance services for growers specialising in broadacre crops such as corn, cotton, rice, soybeans, and wheat.
The scheme will use new technology to aid the underwriting and claims process and will integrate Farmers Edge’s risk management platform, FarmCommand™, along with digital tools to simplify claims, automate acreage reporting, and match growers with the right mitigation plan.
“Through this collaborative approach, Premier Crop Insurance gains the opportunity to scale its business model with a turn-key farm data management solution designed to enhance digital connectivity with growers,” said a spokesman for Farmers Edge. “For growers that wish to share their data with their Premier agent, the platform provides visibility into the current and predicted stages of crops, disease, and pests; severe weather forecasting; and crop health change detection on a field-by-field or zone-by-zone basis.
“This time-saving technology enables automatic claim prediction, notification of claims, and claim estimation. Additionally, the platform includes on-farm infrastructure that eliminates the need for manual data entry and ensures accurate, unbiased data sets for improved planted acre verification and production reporting.”
“Premier Crop Insurance has a grower-first approach to business, and we found a kindred spirit in Farmers Edge that made this partnership a natural fit,” said Scott Walker, president of Premier Crop Insurance. “Working with Farmers Edge gives us a simple solution to establish season-long engagement with our growers and make it easy for them to share data with us—accurately, timely, and efficiently—so we can extract value from that data and enhance our business model to provide tailored products and support.”
“Our partnership with Premier Crop Insurance is a further testament to the growing power data has on the future of the entire agricultural ecosystem,” said Wade Barnes, CEO and co-founder of Farmers Edge. “By offering a full scope of business intelligence capabilities to growers, Premier agents will differentiate themselves from competitors and even introduce opportunities to growers who previously had no access to custom insurance products. It’s a win-win scenario for everyone.”