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Webinar: Onboarding, Monitoring & claim management: Remote sensing solutions and digitization in agricultural finance
Agricultural insurers in remote areas are often faced with stark choices with regard to onboarding of farmers, monitoring the season’s progress and conducting claim assessments. Scalable registration of numerous farmers as well as physical inspections take significant time and resources, and the quality of information can vary greatly depending on an individual loss adjuster. Physical interactions tend to be impractical for smallholder crop insurance, and sometimes difficult to justify even for larger commercial farms. Usually, insurers have insufficient visibility into the fields until the claim occurs, and there are substantial costs associated with fraud or other data quality issues driven by moral hazard aspects.

Digital tools enable the collection of field data with precise time and location, improving quality of risk and exposure characteristics. The loss adjustment process can be systemized via an electronic form, and with a structured database, any irregular inspection pattern can be easily detected. Insurers can give an option for their customers to digitally report compliance data or make claims via a mobile application, further simplifying the process and limiting costs. To complement ground data, satellite-based remote sensing data can give indications of crop health status and production risk and can benchmark one season to the next or one grower to another. Panelists will explain how it helps identify growers and areas with potential issues and optimize physical inspection processes accordingly.

Join MFW4A, Agritask and FSD Africa for a virtual discussion on how precision agriculture technologies can be used to improve visibility through the crop season.

Rom AVIV, Managing Director – Head of Insurance, Agritask
Einav GOLD, Insurance Product Director, Agritask

Thomas WIECHERS, Assistant Director - Risk, FSD Africa

Sep 30, 2020 01:00 PM in Universal Time UTC

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