Unique Digital Infrastructure Creates New Connectivity in Crop Insurance
21 January 2021, NY: Farmers Edge™, a global leader in digital agriculture, and Hudson Insurance Company (Hudson), a top specialty insurer, today announced a partnership to enhance the insurance cycle and establish a seamless digital connection with agencies and growers. Hudson offers crop insurance products to growers across all 50 states, accounting for one-third of its portfolio. Working in partnership, Farmers Edge and Hudson create synergy conducive to growth, differentiation, and modernization of services that align with the evolving market.
Using the unique digital infrastructure from Farmers Edge, complete with robust datasets and predictive tools, Hudson crop agents can digitize the flow of insurance data to reduce leakage, improve reporting transparency, and increase profitability. Facing technology-driven disruption head-on, Hudson crop agents will have access to a turnkey system to deliver a superior customer experience. Agencies can form a direct, digital connection to the farm and become better equipped to develop hyper-personalized products for their customers, scale their business, and drive long-term growth in the race for acres.
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This partnership goes far beyond automating acreage and production reporting. Agents and growers will also gain access to Smart Claim, a highly intelligent tool that layers field-centric weather and imagery data with artificial intelligence, to predict the possible strike of disaster across insured acres. The tool modernizes the claim life cycle for all stakeholders, from detection and submission to estimation and adjudication.
“Crop insurance is our biggest business unit, and we’ve made a strategic move with Farmers Edge to augment our technical capabilities, enable better risk management, and provide a differentiated and enriched experience to our agents and growers,” said Christopher Gallagher, President and Chief Executive Officer at Hudson. “By working together, we’re helping our agents diversify and harness the power of digital to build resiliency and set ourselves apart from the competition.”
“In insurance, data is the name of the game. But as we’ve learned from working with growers for the past 15 years, it’s not just about data; it’s about what you do with it,” said Wade Barnes, CEO and founder of Farmers Edge. “Our proprietary technologies have revolutionized complex data processing to solve difficult challenges and turn data and analytics into business drivers. Hudson has an excellent track record, and this partnership is an investment in its future. This is a monumental step to help agents compete with disruption and deliver a consistent and connected customer experience for years to come.”