ISPA Account

Can OFE support insurance companies to provide better and cheaper service to farmers?

Climate change has disrupted agricultural cycles and added to the risks faced by farmers globally. Floods, droughts, cyclones, wildfires, and other natural disasters have become more frequent and intense and cause massive destruction and losses. The pandemic-led restricted movement added to farmers’ problems. Crop insurance protects farmers against loss from natural calamities and other risks. However, insurance companies need reliable and timely information on crop area, production, and yield to insure farm operations, customize insurance products for crops and regions, and verify claims. Can OFE help solve this challenge created by climate change? Read more here.