Farmers Edge, Fairfax Brasil to Bring Crop Insurance to Brazil
Farmers Edge and Fairfax Brasil have partnered to bring customized, data-driven crop insurance to growers in Brazil. This agreement connects the Farmers Edge risk management platform, powered by field-centric data and artificial intelligence, with Fairfax Brasil insurance. The companies say that bringing real-time data into crop insurance may allow for coverage to be individualized for grower’s needs.
Brazil is the fourth largest food producer in the world, but growers continue to face challenges surrounding collecting and accessing the right data to enable more efficient, sustainable, and profitable farming. Through this partnership, customers can access Farmers Edge on-farm weather stations, telematics devices, daily satellite imagery, and along with digital tools, such as predictive crop models and automatic crop health change detection. Additionally, Fairfax partners will gain greater visibility of the farms they cover to manage risk better and to provide automated claims processing, advanced claim analytics, and cognitive reporting.
“This partnership with Farmers Edge is very strategic for Fairfax Brasil in automating manual, paper-based processes that slow down both growers and partners,” said Bruno Camargo, Fairfax Brasil CEO. “With government insurance subsidy programs expected to grow 170% in 2020, growers in Brazil are looking for innovative, new insurance products that fit their specific needs, offer a safety net that many do not have today, and can accelerate new product and coverage creation”