Upaj by Absolute solves the problem of 'non-seasonal rainfall' loss for farmers with a first-of-its-kind DIY insurance marketplace in collaboration with DigiSafe

Upaj by Absolute solves the problem of ‘non-seasonal rainfall’ loss for farmers with a first-of-its-kind DIY insurance marketplace in collaboration with DigiSafe

New DelhiAnd the December 17, 2022 /PRNewswire/ — Unexpected rainfall in various states has damaged ready-to-harvest crops such as rice, soybeans, cotton, pulses and vegetables at a time when India He is facing a possible shortage of food grains due to the low cultivation of Kharif crops, especially rice. In addition, off-season rains can potentially damage 15 to 20% of winter-summer crops. India Millions of smallholders are expected to be affected by bad harvests. As a result, the need and demand for crop insurance is likely to increase.

Crop insurance protects farmers from two possible losses: crop loss – due to natural disasters, and income loss – due to lower prices for agricultural products. However, standard crop insurance is based on predetermined characteristics such as rainfall rather than crop yield. With our tagged crop insurance offerings, farmers can get faster claims settlements during natural or weather disasters such as off-season rains.

Recognizing the challenges in traditional insurance models, Devendra Fadnavis, Deputy Chief Minister of Maharashtra, was recently reported emphasizing the importance of crop insurance and recommending active innovations in the agrotech ecosystem.

Absolute’s first-of-its-kind DIY insurance platform, built on Upaj’s AgCloud ecosystem, stands out as a tangible solution to farmers’ problems, creating safety nets to protect all types of farmers from catastrophic weather events. With the DIY insurance market, farmers will have the freedom to choose standard insurance products from the many insurance companies available in their barcodes.

Upaj, Absolute’s first global AgCloud ecosystem, provides integrated agricultural solutions to farmers for crop guidance through AI & ML. It has enabled crop insurance feature for more security for farmers. Create India The first DIY marketplace for crop insurance, Upaj by Absolute allows farmers to create their own insurance cover for the amount they want and helps farmers to calculate insurance premium for specific cropsAnd the related to their areas and the amount of coverage.

Sarabah muleUpaj’s manager, Mutlaq saidAnd the “Crop insurance programs have existed in the past, but they have been plagued by limited adoption and slower valuation rates. With a technology-driven strategy and focus on benchmark insurance, we intend to speed up the process while remaining rigorous. We believe that by creating a sustainable ecosystem that intervenes at every stage of agriculture life cycle, we can support resilient producers to thrive by shifting to sustainable technologies.”

Anupam ShriDigisafe founderAnd the “Through this collaboration, we aim to strengthen the government’s efforts in existing insurance schemes and complement them with our services for deeper rural penetration. Our motive is derived from ensuring economically sustainable and better livelihoods for farmers, as we believe they play a crucial role in driving the economic wheels of the country.”

about the absolute®

absolute® is a leading biosciences company that harnesses the best of nature, science and breakthrough innovation to build a better future – for people and the planet.

Plant biology, microbiology, omics, epigenetics, and artificial intelligence intersect, and the company has developed one of the world’s first and largest nature intelligence platforms, comprising one of the largest microbiomes, secondary metabolites, signaling molecules, and other advanced factor libraries for biocontrol and catalysis . , all of which are Ag strength absolutecbustling platform and global trade platform.

Founded in 2015, divorced®️ It currently operates in more than 16 countries. Powered by Sequoia, Tiger Global, and Alpha WaveThe angels include the Absolute Nader Godrej– MD at Godrej Industries, Kamal AggarHaldiram promoter, Kunal Shah CRED among others.

About DigiSafe

DigiSafe is an Insurtech startup that recognizes the need to break through rural insurance in India. DigiSafe intends to be the homegrown digital Insurtech for the economically underdeveloped regions of Indiawhere they can offer their simplified products, crops, livestock and other insurance products.

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