A turning point for Crop Insurance management in RussiaNAAI - the single nationwide association of insurers in Russia, counting 18 ag insurance companies - initiates new practices and confirms its partnership with GEOSYS™ to support this historical change.
As a result of the 2015 International round table, NAAI has identified the need to bring a more standard insurance service to farmers. To meet this goal, NAAI has looked to potential international partnerships with both ag insurance and technology companies. The association wishes to implement best management practices, new working methods and operational processes, in particular for risk assessment, underwriting and loss adjustment.
NAAI, demonstrating a real capacity to innovate and to build a clear long-term strategy, has decided to provide more resources and more means to its members (ag insurance companies), deploying standard services and processes to help in managing requests from farmers located in different regions of crop insurance. Ag insurance companies need to objectively monitor and analyze historical and current cropping conditions everywhere in Russia and all along the year.
GEOSYS is thrilled to have been chosen to bring a real added-value to the stakeholders of the Russian agricultural insurance sector with its product, Agriquest™ global monitoring, a single website to analyze crop conditions globally, from continent scale to field scale.
On February 2-3, 2016, 18 Crop insurance service providers, members of NAAI participated to a GEOSYS training in Moscow Russia. The participants learned how to use regional level data for underwriting and field level data for loss adjustments with Agriquest.
When assessing farmers’ requests, ag insurance companies consider several criteria such as the quality of crop conditions , historical yields, technology used on the farm, climatic risks etc.
During the training, the participants worked on several real case studies using satellite and weather-based insights: going from historical weather conditions occurrence assessment in different regions of Russia to hail damage evaluation on a given field.
They used the features of Agriquest to create maps and charts which allow for regional analysis of current winterkill risks in Russia as well as historical draught in 2010. Using this information they are easily able to define the most impacted regions and type of crops, make analysis and build a full report.
Thanks to Agriquest, the participants could observe the impact of weather conditions on crop development, make better underwriting decisions before and during the growing season and detect anomalies that require further investigation on the farm.
Beginning of April, a delegation from NAAI will come and meet the GEOSYS Technical Teams in France (Toulouse). A great opportunity for both key players to share user feedback, better understand Ag Insurance market needs and progress on customized products development.
The participants, not only enjoyed the training, but also received a certification for the use of Agriquest, which will be their platform of reference for risk management.