Going High-Tech to Address Challenges and Deliver Streamlined Insurance Experience
Farmers Edge and ProAg work to digitize insurance process and combat the complexities facing today’s modern crop production
LINCOLN, Nebraska, and AMARILLO, Texas – January 12, 2021 — Farmers Edge™, a global leader in digital agriculture, and ProAg®, America’s expert in agricultural risk management, today announced a strategic alliance to support ProAg agents and farmers during these challenging times. The two companies will work together to digitize insurance claims and reporting to help minimize operational risk for agents and increase information accuracy related to private crop insurance for growers. The alliance is an instrumental move in reducing common friction points across an industry responsible for providing a stable, sustainable food supply to feed the world’s growing population. With more efficient data transfer mechanisms, growers can better focus on other obstacles threatening crop production.
Currently, there are over 380 million insured acres under federal programs alone. Assessing and managing the risk associated with policies can be complicated, time-consuming, and costly. Insurers require tools to increase efficiency, reduce errors, and ensure quality customer experiences.
With a grower’s consent, ProAg and its licensed agent partners can access data from on-farm hardware to automate insurance reporting and claims, minimizing administrative expenses and human resources. This unique digital alliance enables agents to use the data growers are already collecting for required crop insurance reporting after planting and harvest. Simultaneously, it expands opportunities for growers to benefit from the improvement of private crop protection products that may not have been previously available.
“Generalities are a luxury that insurers cannot afford,” says Wade Barnes, Farmers Edge CEO and co-founder. “More than ever, being able to predict risk down to an individual case is critical to cutting costs and paving the way for greater growth. Farmers Edge provides access to accurate data consistently, when and where it is needed, to help all stakeholders protect investments and interests. By working with ProAg, we can better equip insurance agents to provide growers with the coverage and insights they need to guard their operations and stabilize farm income. It’s another win in expanding the digital agricultural ecosystem to support a changing industry landscape.”
“Agricultural risk management continues to evolve, and ProAg is at the forefront of these changes by providing new strategies and solutions to our agents and growers,” says Kendall Jones, CEO at ProAg. “Farmers Edge gives us the tools we need now to work effectively, but also paves the way to a new insurance experience—one with faster processing times, fewer reporting errors, and deeper partnerships between growers and agents. Their platform creates a central source of trust; from advanced analytics and data collection to detailed field intelligence and data management, it provides a complete picture of current and forecasted conditions and outcomes. This new level of connectivity helps our agents better facilitate operations, stand out from the competition, and uphold the high-standard of customer service for which we’re known.”
About Farmers Edge
Farmers Edge is a global leader in digital agriculture delivering cutting-edge solutions powered by a unique combination of field-centric data, artificial intelligence, and complete integration. Since 2005, Farmers Edge has transformed the industry with disruptive technologies and strategic partnerships designed to enhance connectivity across the entire agricultural ecosystem. With the most comprehensive data management platform on the market–FarmCommand™–Farmers Edge is revolutionizing the way farmers, agricultural professionals, and agri-businesses interact with data. Moving at the speed of digital with an elite team focused on innovation, machine learning, and IoT, Farmers Edge is creating new opportunities for all stakeholders, shaping the future of agriculture worldwide.
To learn more about Farmers Edge, visit FarmersEdge.ca or FarmersEdgeUSA.com.
ProAg is a member of the Tokio Marine HCC group of companies and has a financial strength rating of “A++ (Superior)” from A.M. Best. The company is a financially strong and well-capitalized crop insurer with nearly 100 years of experience protecting the American farmer. ProAg writes multi-peril crop, crop hail, named peril crop, and livestock insurance. The company is headquartered in Amarillo, Texas, with six offices spread across the United States. ProAg employs approximately 400 people supporting crop insurance operations in 49 states. ProAg is an equal opportunity provider and employer.
To learn more about ProAg, visit ProAg.com.
Source: Press Release
Jill Reed or Peter Brooks
Sift Communications for Farmers Edge