Farmers Edge Inc. Launches DigiAg Risk Management (US), LLC Subsidiary
08 Fevereiro 2022 - 9:00AM
Business Wire
DigiAg US will work alongside trusted agents
and insurers to create high-tech parametric insurance products and
unique risk transfer solutions for American farmers
Farmers Edge Inc. (TSX: FDGE), a global leader in digital
agriculture, is pleased to announce the creation of DigiAg Risk
Management (US), LLC (DigiAg), a wholly-owned subsidiary of Farmers
Edge. Facing disruption head-on, DigiAg will work alongside
insurers and agents to develop innovative crop protection solutions
and unique coverage options to help protect American farmers from
risk.
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DigiAg US will work alongside trusted
agents and insurers to create high-tech parametric insurance
products and unique risk transfer solutions for American farmers
(Photo: Business Wire)
The Company will leverage localized, proprietary datasets and
robust digital infrastructure to create opportunities for farmers,
insurers, and agents previously unavailable in the marketplace. Its
approach fuses productivity, profitability, and sustainability
together to address farmers' evolving needs and create a superior
insurance experience to boost return on investment across the
farm.
All farm data is collected passively using Farmers Edge
solutions (including high-resolution, high-frequency satellite
imagery; weather conditions and events, such as hail or flood;
predictive crop growth stage, disease and pest, and yield models;
detailed acreage and production reports; and more) to provide
seamless access to critical information required for crop insurance
reporting. Digitizing the flow of insurance data using this novel
and comprehensive structure delivers substantial time savings,
reduces claims leakage, and ensures a high level of validity and
reporting transparency for all stakeholders.
Agents can partner with DigiAg to enhance their service model,
collaborate on innovative private products, generate revenue
through referrals, and create a hyper-personalized customer
experience to foster long-term business growth.
"We're focused on shifting the traditional insurance model to a
high-tech, omnichannel experience for all stakeholders," says Wade
Barnes, Farmers Edge CEO and founder. "With input costs on the rise
and weather patterns continuing to change, farmers are challenged
with growing more food while remaining profitable; they need simple
and affordable solutions to protect their operations from risk. At
the same time, insurers do not have seamless access to the
high-quality datasets they need to develop, distribute, and support
sustainable insurance products for farmers. That's where we come
in. We help farmers collect and manage their data so they can make
informed decisions, and those decisions create a domino effect of
opportunities across the digital agricultural ecosystem. We're
excited to work alongside the insurance industry to develop unique
crop protection and risk transfer solutions to help more farm
operations prosper."
To learn more about DigiAg, visit: DigiAgRiskManagement.com.
About Farmers Edge
Farmers Edge is a global leader in digital agriculture
revolutionizing the industry with the broadest portfolio of
proprietary technological innovations, spanning hardware, software,
and services. Powered by a unique combination of connected field
sensors, artificial intelligence, big data analytics, and agronomic
expertise, the Company's digital platform turns data into actions
and intelligent insights, delivering value to all stakeholders of
the agricultural ecosystem. Farmers Edge disruptive technologies
accelerate digital adoption on the farm and beyond, protecting our
global resources and ensuring sustainable food production for a
rapidly growing population. For more information, please visit
www.farmersedge.ca and SEDAR (www.sedar.com).
Forward-Looking Information
This presses release may contain forward-looking information
within the meaning of applicable securities legislation, which
reflects the Company's current expectations regarding future
events. Forward-looking information is based on a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond the Company's control, that could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking information. Such
risks and uncertainties include, but are not limited to, the
factors discussed under "Forward-Looking Information" and "Risk
Factors" in the Company's Annual Information Form dated March 29,
2021, and under the "Risk and Uncertainties" section in the
Company's management discussion and analysis filed November 11,
2021, each of which are available on the Company's website
(www.farmersedge.ca/investor-relations/) and on SEDAR
(www.sedar.com). The Company does not undertake any obligation to
update such forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220208005612/en/
Farmers Edge Media Relations: Richard Berman
Richard@VerbFactory.com (647) 294-8372
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