The new tool combines sophisticated weather detection and forecasting, high-resolution satellite imagery, and industry-leading AI technology to automate claim detection and simplify claims management, paving the way for future risk management products
LINCOLN, Nebraska, and WINNIPEG, Manitoba – June 2, 2020 — Farmers Edge™, a global leader in digital agriculture, today announced a new severe weather detection, notification, and reporting tool. Available through FarmCommand®, a comprehensive digital platform, the tool delivers in-depth reports with critical information required by insurance professionals to make assessments and take action, expediting what is usually a time-consuming process.
This first-of-its-kind technology merges field-centric weather data, machine learning, high-resolution satellite imagery, and crop health change detection into one easy-to-use management tool, a welcome breakthrough for the crop insurance industry. Insurance professionals can view active hailstorms, follow storm paths, and monitor when storms touch down on fields where their growers have existing policies. Following the hail event, instead of piecing together details from various sources, automatic notifications are generated to alert growers, agents, and adjusters to critical information, including fields affected, location, crop stage, and extent of the damage. A Crop Health Change Map provides an additional layer of field-level analytics to support assessment and claims management activities.
“The concept of automating claims processing is not new, but the automation of prediction, detection, and reporting powered by field-specific data for insurance is game-changing,” said Wade Barnes, CEO and co-founder of Farmers Edge. “One of the challenges to developing accurate models and reports is not just the amount of data required, but the quality as well; this is where we saw an opportunity to help and tackle this gap in the industry. By layering what we’ve built—the highest quality data sets available—with powerful digital tools, insurance professionals can refine their claim reporting process and deliver premium services to their customers. At the end of the day, it’s about providing growers with the best possible experience through deeper digital connections. This new tool does just that, transforming an outdated process to one that’s more efficient and profitable for growers and insurance professionals alike.”
How the Hail Detection and Reporting Tool works:
Detection: Powered by a sophisticated severe weather monitoring system and Farmers Edge Advanced Weather Network of on-farm stations, insurance professionals and growers can access real-time, historical, and 10-day weather forecasts to identify and track risks.
Notification: The morning after a hail event occurs, growers and insurance professionals are alerted to the weather event with an email notification. Additionally, high-resolution imagery of the field is automatically analyzed from before and after the event to detect and pinpoint any potential damage or changes in crop health.
Reporting: The notification links to advanced reporting features in FarmCommand which detail the hail event rated by severity, time, location, size of affected areas, and the stage of the crop impacted. Crop adjusters can assess the damage by viewing imagery from before and after the event to make an assessment and determine action.
Availability
The new Hail Detection and Reporting Tool is just one of the many innovative features Farmers Edge has launched this year. To learn more or request a demo, email insurance@farmersedge.ca. Insurance professionals can also register here for an informational webinar showcasing the new tool on Thursday, June 4th, 2020 at 9:00 a.m. CDT.
About Farmers Edge
Farmers Edge is a global leader in digital agriculture that delivers cutting-edge solutions powered by a unique combination of field-centric data, artificial intelligence, and complete integration. Since 2005, Farmers Edge has transformed the industry with disruptive technologies and strategic partnerships designed to enhance connectivity across the entire agricultural ecosystem. With the most comprehensive data management platform on the market–FarmCommand®–Farmers Edge is revolutionizing the way farmers, agricultural professionals, and agri-businesses interact with data and their trusted partners. Moving at the speed of digital with an elite team focused on innovation, machine learning, and IoT, Farmers Edge is creating new opportunities for all stakeholders, shaping the future of agriculture worldwide.
To learn more about Farmers Edge, visit FarmersEdge.ca or FarmersEdgeUSA.com.
Media Contacts:
Jill Reed or Peter Brooks
Sift Communications for Farmers Edge
farmersedge@siftpr.com
Ph: +1-415-722-2433
