HYDERABAD: The Telangana government on Thursday said it has inked a pact with Wingsure, an insurtech venture spin-out of SRI International (formerly Stanford Research Institute), to offer personalised crop insurance products and advisory services to small, underserved farmers in the state.
US-based Wingsure will collaborate with government agencies to develop a ground distribution strategy by leveraging its deep-tech platform, including AR (Augmented Reality), AI (Artificial Intelligence), ML (Machine Learning)-based personalized solutions, along with voice bots and natural language processing (NLP), to allow farmers to communicate in their native language.
It will curate and distribute crop and other general insurance products via its network of insurers and broker partners. It will also provide customized advisory, training, and facilitate rapid insurance claims through its mobile-based platform.
While Telanagana’s Information Technology, Electronics & Communications (ITE&C) department will facilitate the implementation of the solution, the agriculture department will offer on-ground implementation through its existing network.
The Professor Jayashankar Telangana State Agricultural University (PJTSAU) will offer its domain expertise through its research centres across the state. It will offer its expertise on risk mitigation specific to crop, climate, and a few other critical areas through Wingsure’s platform.
Commenting on the development, Jayesh Ranjan, principal secretary, ITE&C department, said, “Technological advancement and implementation are ways to transform agriculture. Our government has identified agriculture as the priority sector and recognizes the importance of AI and other emerging technologies in elevating agricultural productivity and improving the livelihood of the farmers in the state. The association with Wingsure will ensure hyper-local data correlation with deep technology to deliver numerous services for the individual smallholders.”
Avi Basu, founder and CEO of Wingsure, said, “We are excited at the possibilities of this partnership, where Wingsure’s deep-tech platform for comprehensive risk resilience, including risks related to climate change and our meaningful engagement with farmers and all stakeholders in the agricultural value chain, will be instrumental in delivering broad-based impact for the Telangana farmers.”
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