nurture.farm partners with SWAL Corporation Ltd to offer solution against heat waves
The partnership enables the companies to build smart risk-cover solutions for farmers to ensure financial safety and resilience against weather irregularities
28 February 2023, Bengaluru: nurture.farm has scaled its weather protection cover offering by partnering with SWAL Corporation Ltd. The product offering is a part of nurture.farm’s flagship resilience program ‘Kavach’.
Weather Kavach is a risk cover offering for farmers to protect them against weather irregularities. It is a flexible cover option where farmers can opt-in for any sum assured value, and claims are disbursed in the event of excessive rain, heat waves, or rain deficit. The advantages of the Weather Kavach product offering include an index-based trigger, shorter disbursal window, and direct transfer of the claim amount to the farmer’s bank account. Since its launch, nurture.farm has successfully offered Weather Kavach to more than 100,000 farmers and sold more than 1 Million Weather Kavach in less than 12 months.
Dhruv Sawhney, COO & Business Head at nurture.farm said, “Globally, 2022 was the fifth warmest year on record. As per reports, scientists have warned that 2023 could be a comeback year for El Nino, pushing temperatures by over 1.5 degrees celsius compared to the average temperature a century ago. As per the reports published in the US scientific journal “Proceedings of the National Academy of Sciences” (PNAS), each degree Celsius increase in global temperature can on average reduce global yields of wheat by 6%, rice by 3.2%, maize by 7.4%, and soybean by 3.1%. Furthermore, the global rise in temperature increases the risks of floods, drought, extreme heat waves, and water shortages, and could push millions into poverty. Despite knowing the pitfalls, and suffering agricultural losses every year, less than 20% of farmers opt-in for risk-cover products owing to the lack of trust, education, and high premium costs.”
nurture.farm is partnering with SWAL Corporation Ltd., an organization that is paving the way for other many organizations to follow by helping us drive change, increase adoption, build for farmer resilience, and truly make agriculture sustainable, viable, and climate-smart.
Through this partnership, SWAL Corporation Ltd is offering Weather Kavach, at no additional cost, to all its farmers who purchase Wuxal & Delma products. While Wuxal provides nutrients to the crop, Delma protects it from various diseases that can be triggered due to wild fluctuations in temperature during critical growth stages. With the likely possibility of higher temperatures predicted for February & March and the harvest window for Rabi crops around the corner, the partnership couldn’t have come at a better time. To avail of Weather Kavach, the farmers must download the nurture.farm app, scan Wuxal and Delma products on the app, and avail it at no additional cost.
Mr. Pramod Tiwari, Head Of Marketing at SWAL Corporation Ltd, said, “For over 10 decades, SWAL has been committed to its farmers by offering them quality agri-solutions that are efficient, improve yield quality & quantity for ensuring better farm profitability. Our teams have been working with the farmers, helping them select the right inputs, imparting technical know-how, educating them about innovative farming practices, and delivering access to technology and advisory throughout the cultivation windows.
Keeping in line with our same core philosophy, we are partnering with nurture.farm to offer weather-based risk cover solutions, at no additional cost, to every farmer who purchases Wuxal or Delma brands in the states of Punjab, Haryana, and Rajasthan. SWAL will continue to improve farmer profitability, drive the adoption of authentic and high-quality inputs including NPP (Natural Plant Protection) solutions and impart farmer education at the grassroots level. We aim to cover more than 1 million farmers nationwide through our various initiatives.”
Also Read: Union Budget 2023: An Overview of the Focus on Agriculture
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