[13 February/Agfunder News]

Farmers Edge have announced a four year deal with Partner Re to bring customised insurance products to users of Farmers Edge’s farm management and agronomy software platforms.  The two companies will work together to develop new agriculture insurance products targeted at farmers in both developed and developing markets.  CEO of Farmers Edge, Wade Barnes, noted that when farmers use the platform to improve yield and lower costs they are de-risking their business which could be connected with more tailored insurance products (where crop insurance markets already exist) or the development of insurance products where non currently exist.  Mr Barnes said that the data collected by Farmers Edge could help establish insurance products in emerging markets after one year and when insurance becomes available farmers are able to take on greater risk to support their growth and development.  A spokesperson for Partners Re said marrying insurance expertise and cutting edge technology will enable insurers to get closer to their customers in terms of risk selection, product design and claims adjustment to create very tailored solutions that meet farmer’s specific needs.