Smart crop insurance platform

About Solution

Accessible and affordable crop insurance is vital for smallholder farmers to increase their resilience to adverse weather. Over 300 million smallholder farmers are vulnerable to climatic risks that have a negative impact financially on crop production and as the climate vulnerability of crops increases these farmers do not yet have the capacity to adapt. Incumbent insurers currently don’t offer affordable products to smallholder farmers as they are considered to be part of an unprofitable market with high admin costs.The result is that smallholder farmers have no financial safety-net and they slide deeper into poverty during a drought.The solution to this is a digital blockchain-based crop insurance product that utilizes satellite imagery to protect smallholder farmers against weather related risks such as drought or floods. By using satellite imagery to monitor crops and weather, Smart crop insurance gives small farmers access to affordable crop insurance to help reduce waste and avoid the poverty trap.Satellite imagery allowsthe early detection ofcrop stress before it's visible to the naked eye and warn the farmer to intervene to prevent unnecessary crop loss.By implementing smart contracts on the blockchain, claim cycles and transaction costs are reduced, and increases transparency by automating claims payment.Implementing such a solution enables smallholder farmers to invest in higher quality inputs, leading to more abundant harvests. Our solution also has the following advantages:

  • enable the processing of high volumes of small claims at a very low cost
  • automated payouts thus making it possible for farmers to replant quicker



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