05 October 2020, Mumbai, IN: Reliance General Insurance a 100% subsidiary of Reliance Capital, has partnered with SatSure Analytics for satellite-based crop monitoring and predictive analytics support for better risk management and improving efficiency of its Crop Insurance business operations.
As part of this partnership, RGICL will supply extensive ground observation data and generate timely reports through Satsure’s SAGE platform, combining the analysis of Earth Observation data to address the key areas of Crop Health, Soil Moisture, Crop Sown Area, Crop Yield Estimation, and Crop Loss Estimation.
Talking about this key partnership, Mr. Rakesh Jain, ED & CEO, Reliance General Insurance said, “We are committed to invest in technology and innovation to make Crop Insurance a success and our partnership with SatSure is aligned with this goal. It’s a key step in our customer-centric approach for timely and efficient insurance servicing while being able to effectively and remotely monitor the business risks.”
Reliance General Insurance is in its 4th year of successful execution of its Crop Insurance business and has always relied on technology to strengthen its capabilities – previously with the civilian use of Remote Sensing Technology, RGICL was able to analyse satellite imagery to monitor the crop from sowing to harvest stage and address key areas of crop health, crop vigor, acreage estimation, crop stress and condition, soil water/ moisture estimation, land use etc. And now with this partnership, there is going to be enhanced level of accuracy and predictability added into the sphere.
“We thank Reliance General Insurance for placing their trust on our product capabilities. This partnership is in-line with our commitment as an organization to enable financial inclusion of farmers by empowering insurance & finance institutions with capacity, intelligence, and outreach to service farmers”, added Shri Prateep Basu, CEO of SatSure Analytics.