27 November 2021, Canada: At Farmers Edge, we are honoured to be among the Deloitte Fast 50 for 2021. The past year has been one of strong momentum and significant achievements. The recognition granted by this award reflects our team’s hard work, dedication, and resilience.
Among many successes and accomplishments, Farmers Edge has launched one of the most effective carbon offset programs in agriculture today and introduced a first-of-its-kind insurance product. Through every achievement, the health and safety of team members have continued to be our highest priority. In response to the COVID-19 pandemic, we introduced new safety protocols and came together to continue to support farmers as they carry the weight of increasing crop production for a rapidly growing population.
Like our farmers, we’re passionate about growing food sustainably and lowering carbon emissions to protect the future of our shared planet. Our goal is to improve and streamline the way food is produced and distributed across the agricultural ecosystem.
Below is a summary of key Farmers Edge accomplishments in 2021 that support our mission of creating the most comprehensive digital platform:
- Acquired CommoditAg, a premier online store for farmers that offers high-quality agricultural products from trusted retailers and suppliers, accessible from the convenience of their farm. CommoditAg has 14 retail distribution partners at over 500 locations, serving 170,000 customers and representing a 70-million-acre footprint.
- Launched a data-driven Smart Carbon program for key agricultural markets in North America. The program is designed to help farmers and their trusted advisors grow more while using less through smart farming practices generated by robust, real-time datasets and the most comprehensive on-farm digital infrastructure.
- Introduced Canada’s first Canola Heat Blast Yield Protection: an innovative insurance solution driven by precise, field-centric data. The cutting-edge solution helps farmers protect their canola crop while mitigating the financial damage of extreme heatwaves. The required data is passively collected, then a guaranteed claim is triggered when the weather and cumulative growing degree-day thresholds are met, automatically sending the claim to the insurance company.
- Formed an advantageous collaboration with leading insurer Munich Re — A+ (Superior) Financial Strength Rating affirmed by AM Best — to advance data-driven parametric weather insurance plus transform traditional parametric coverage models into scalable and profitable solutions for all stakeholders.
- Forged a strategic alliance with two large Approved Insurance Providers, ProAg and Hudson, for passive data transfer from the field to the insurance platforms. The system digitizes the flow of insurance data, automates acreage and production reporting, powers efficient claims management, and improves the accuracy and reliability of essential data.
- Joined forces with Fairfax Brasil to deliver customized, data-driven crop insurance to growers in Brazil. The partnership brings together a world-class risk management platform powered by field-centric data and artificial intelligence, with premium insurance as the foundation for developing innovative solutions that address risk factors more directly, dynamically, and affordably for both growers and insurers.
- Signed a long-term strategic agreement with Google Cloud to market Farmers Edge services while bolstering the use of artificial intelligence, machine learning, and predictive analytics. The transition to Google Cloud will facilitate data processing and storage with net-zero emissions.
Farmers Edge has embraced the power of technology to change the world by improving the way we grow our food. From our home in Manitoba, we strive to solve the most critical problems faced by today’s farmers; and over the last 15 years, we have expanded from a tiny team of innovators to a global brand known for helping growers and their trusted advisors to leverage the latest technologies to improve yields, maximize profitability, and reduce environmental impact.
As all farmers do, we at Farmers Edge work with our sights set on the next season, the next innovation, and the next leap in technology. We are incredibly proud to have been recognized among the Deloitte Fast 50 for 2021. Empowered by data and the passion of people behind our technology, we will continue to innovate, disrupt, and turn data into insights to move sustainable farming forward.