Wingsure partners with AICIL to deliver composite insurance products and digital management services to farmers using advanced technology

As part of the agreement, Wingsure will use its advanced technological capabilities to improve the accessibility of insurance products and services for farmers in India† manages and promotes AICIL’s comprehensive portfolio of agricultural insurance products and enables its channels, including groups and partner brokers, to distribute through its mobile app.

Agriculture and its related sectors are the largest livelihoods in India, with most rural households relying mainly on agriculture and 86% of farms being small and marginal. However, farmers are vulnerable to the impacts of climate change and other livelihood risks and have sub-optimal access to risk awareness programs and modern resources. Wingsure’s application was launched to support economic empowerment with transparency and promote sustainability through modern farming practices. The partnership will have access to more than 40 million farmers in India and focus on transforming the way farmers reduce and adapt to climate change and other risks associated with livelihoods.

Malay Poddar, Chairman and Managing Director, AICIL, said, “We firmly believe that technology implementation is the key to providing insurance and thereby protecting the underserved. Through our association, we will use the Wingsure technology platform to support our vision of how farmers can use insurance to reduce risks.”

Avi Basufounder and CEO of Wingsuresaid, Wingsure’s deep-tech platform is revolutionizing the way smallholders use insurance and financial products to protect their livelihoods. It is designed to provide optimal access to risk awareness programs, smart climate practices and other modern resources, as well as government-supported programs. The application uses AI and machine learning (ML) to quickly process insurance and claims. We are excited to partner with AICIL on their vision to use technology to empower farmers’ resilience in India

About Agriculture Insurance Company of India Limited

AICILcontrolled by the government of Indiahas approved the crop insurance schemes of the government of India since 2003-04. Currently, AICIL implements, among other things Pradhan Mantri Fasal Bima Yojana (PMFBY), Bangla Shasya Bima Scheme (BSBS) and Restructured Weather-based Crop Insurance Scheme (RWBCIS) and many of its own agricultural insurance products.

About Wingsure

Wingsure uses artificial intelligence and deep technology to protect farmers around the world. The company operates in developing countries as well as advanced countries, targeting growers who are excluded from traditional financial services. Wingsure is committed to providing farmers with a competitive level of technology and safety to maintain the dignity and sustainability of individuals worldwide.

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SOURCE Wingsure

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