12 January 2021, Texas: Farmers Edge™, a global leader in digital agriculture, and ProAg®, America’s expert in agricultural risk management, today announced a strategic alliance to support ProAg agents and farmers during these challenging times. The two companies will work together to digitize insurance claims and reporting to help minimize operational risk for agents and increase information accuracy related to private crop insurance for growers. The alliance is an instrumental move in reducing common friction points across an industry responsible for providing a stable, sustainable food supply to feed the world’s growing population. With more efficient data transfer mechanisms, growers can better focus on other obstacles threatening crop production.
Currently, there are over 380 million insured acres under federal programs alone. Assessing and managing the risk associated with policies can be complicated, time-consuming, and costly. Insurers require tools to increase efficiency, reduce errors, and ensure quality customer experiences.
With a grower’s consent, ProAg and its licensed agent partners can access data from on-farm hardware to automate insurance reporting and claims, minimizing administrative expenses and human resources. This unique digital alliance enables agents to use the data growers are already collecting for required crop insurance reporting after planting and harvest. Simultaneously, it expands opportunities for growers to benefit from the improvement of private crop protection products that may not have been previously available.
“Generalities are a luxury that insurers cannot afford,” says Wade Barnes, Farmers Edge CEO and co-founder. “More than ever, being able to predict risk down to an individual case is critical to cutting costs and paving the way for greater growth. Farmers Edge provides access to accurate data consistently, when and where it is needed, to help all stakeholders protect investments and interests. By working with ProAg, we can better equip insurance agents to provide growers with the coverage and insights they need to guard their operations and stabilize farm income. It’s another win in expanding the digital agricultural ecosystem to support a changing industry landscape.”
“Agricultural risk management continues to evolve, and ProAg is at the forefront of these changes by providing new strategies and solutions to our agents and growers,” says Kendall Jones, CEO at ProAg. “Farmers Edge gives us the tools we need now to work effectively, but also paves the way to a new insurance experience—one with faster processing times, fewer reporting errors, and deeper partnerships between growers and agents. Their platform creates a central source of trust; from advanced analytics and data collection to detailed field intelligence and data management, it provides a complete picture of current and forecasted conditions and outcomes. This new level of connectivity helps our agents better facilitate operations, stand out from the competition, and uphold the high-standard of customer service for which we’re known.”