Key Takeaways
- Farmers Edge Inc. has partnered with Saskatchewan Municipal Hail Insurance (SMHI) to pilot new InsurTech tools in crop insurance.
- The project aims to improve the accuracy and efficiency of insurance claim adjustments using advanced analytics.
- SMHI, a leading provider in Canada, and Farmers Edge, with extensive experience in agricultural technology, collaborate to refine loss adjustment processes.
- The partnership utilizes data analytics, remote sensing, and AI-driven models to support SMHI’s operations.
- Enhanced tools include customized reporting, risk monitoring, and the SmartClaim™ technology from Farmers Edge.
Partnership Details
Farmers Edge Inc., a specialist in digital agriculture, has announced a partnership with Saskatchewan Municipal Hail Insurance (SMHI) in a pilot project that seeks to refine adjudication processes in crop insurance through advanced InsurTech tools. This collaboration aims to leverage the capabilities of both entities to enhance risk monitoring and support more efficient claims adjustments.
Background of the Collaboration
SMHI has established itself as one of Canada’s foremost crop hail insurers, known for its commitment to providing excellent service and reliable insurance products to crop producers. Farmers Edge, with nearly two decades of experience in deploying technology solutions in agriculture across the Canadian Prairies, is set to augment SMHI’s business model. This partnership will provide SMHI’s teams with enhanced analytical tools and insights, facilitating more precise hail damage assessments.
Executive Insights
Vibhore Arora, CEO of Farmers Edge, commented on the partnership, “We’re excited to partner with SMHI and focus on creating value for their business through our portfolio of best-in-class solutions for crop insurers.” Echoing this sentiment, Rodney Schoettler, CEO of SMHI, stated, “We’re thrilled to announce our collaboration with Farmers Edge, harnessing cutting-edge predictive analytics and remote sensing technology to support our loss adjustment process.”
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