NEW YORK, July 7, 2022 /PRNewswire/ – Agricultural Insurance Company of India Limited (AICIL), A nationalized Treasury insurance company with which the Indian government has signed a three-year contract? Wingsur, An insurance company that uses artificial intelligence and deep technology to protect farmers around the world.
As part of the agreement, WingSure will leverage its advanced technology capabilities to significantly improve access to insurance products and services for farmers in India; Curate and promote AICIL’s broad portfolio of agricultural insurance products and enable it to be delivered across all channels including clusters and partner brokers via its mobile app.
Agriculture and related sectors are the largest source of livelihood in India, with most rural households mainly dependent on agriculture and 86 percent of farms being small and non-significant. However, farmers are vulnerable to the impacts of climate change and other existential risks and have less access to risk awareness programs and modern resources. The WingSure application was introduced to support economic self-determination and promote sustainability through transparency through modern farming practices. It uses advanced computer vision, augmented reality and language capabilities to provide intelligence and information to small farmers. To facilitate the processing of insurance claims. The partnership will reach more than 40 million farmers in India and will focus on transforming the way farmers mitigate and adapt to climate change and other livelihood risks.
Malaysian Poddar, President and CEO, AICIL, said: “We strongly believe that the implementation of technology is critical to the delivery of insurance, and thereby protecting the underprivileged. Through our collaboration, we will leverage the WingSure technology platform to support our vision: How can farmers use insurance to mitigate risk?
Avi Basu, Founder and CEO of Wingsure, “Wingsure’s deep tech platform revolutionizes the way small farmers use insurance and financial products to protect their livelihoods. It can also be leveraged through risk awareness programs, climate friendly practices, and other state-of-the-art government resources. Designed to provide optimal access to supported programs. The app uses AI and machine learning (ML) for insurance underwriting and faster claims processing. We use technology to build resilience for farmers in India. We look forward to working with AICIL
About Agriculture Insurance Company of India Limited
AICILControlled by the Government of India and has been implementing the Government of India crop insurance programs since 2003-04. Currently, AICIL is implementing Pradhan Mantri Fasal Bima Yojana (PMFBY), Bangla Shashya Bima Yojana (BSBS), and Restructured Weather-Based Crop Insurance Scheme (RWBCIS), among others, as well as several of its proprietary agricultural insurance products. Is.
Wingsure uses artificial intelligence and deep technology to protect farmers around the world. The company has operations in both developing and advanced economies and focuses on producers operating outside of traditional financial services. Wingsure is committed to providing farmers with a competitive level of technology and safety to uphold the dignity and sustainability of people around the world.
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