• Solutions

Digitalization of Agribusiness Insurance in India

Up to 90% Accurate Harvest Forecast

The pilot project Digitalization of Agribusiness Insurance is implemented within the framework of development of Russia-India strategic partnership.

Currently, India lacks technologies that could confirm or disprove an occurrence of loss and prepare documents on forecasting harvests of main crops. Life of 60% of Indians hinges on agribusiness

To address this problem, 2050.digital, jointly with one of India's leading insurance firms, founds the center for objective agribusiness control in the country.

Harvest forecasting employs the following:

  • mathematical models
  • Earth remote probing materials
  • weather data
  • retrospective data on the monitored areas
  • automatic and automated decryption
  • dynamic models of vegetation indices of various crops and forecasting of development thereof

These techniques help forecast harvest volumes with up to 90% accuracy

Effects

for farmers

  • stable income
  • time-efficient and fair harvest loss compensations

for insurance firms

  • unbiased verification of insurance claims, identification of causes and scope of damage and loss
  • lower insurance benefits thanks to unbiased findings

for the government

  • social stability
  • cost cutting
  • food supply security