Agri-tech startup nurture. farm on July 13 announced its partnership with SBI General Insurance and Future Generali India Insurance Company to expand its insurance solutions for its 1.9 million farmers.
Nurture. the farm is an open digital platform for growers, farming communities, and food systems.
The company had recently received a corporate agency license from Insurance Regulatory and Development Authority (IRDA). This license enables nurture. farm to help farmers access innovative insurance solutions at cost-effective price points.
”Insurance penetration in India is very low, especially in the rural hinterland. We want to develop smart insurance solutions for farmers to increase their financial resilience.
We are elated to have partnered with a trusted brand…,” nurture. farm Business Head and COO Dhruv Sawhney said in a statement.
With these partnerships, the company aims to offer its insurance solutions to nearly 2 million farmers in 2022-23, it added.
Commenting on the partnership, Priya Kumar, Head – Emerging Business Lines, Rural & Agri, SBI General Insurance said, “At SBI General, we have been working closely with the farming community over the last few years for developing custom-made insurance solutions. We are happy to partner with nurture. farm, which is yet another step toward supporting and safeguarding our farmers with a tech-enabled platform.
This association with nurture. the farm will further strengthen our commitment to secure farmers across the length and breadth of the country. Our partnership will also provide a boost to increase insurance awareness and bring more farmers into the insurance fold, thereby protecting them from financial strain arising due to unforeseen circumstances.
With these partnerships, nurture. the farm aims to offer its insurance solutions to 2 million farmers in 2022-23, and will continuously innovate to offer risk mitigation solutions to farmers. nurture. farm intends to offer remote sensing-based farm-level insurance to farmers, which is one of the missing links in increasing farmer resilience in India.
About Nurture. farm
Launched in 2021, nurture. the retail platform offers product authenticity and protection against spurious and fake product purchases, allowing retailers and dealers to ultimately pass on the service benefits to farmers who can now purchase genuine, high-quality agricultural products at competitive prices, nurture. farm claims.
According to nurture. farm, retailers, and dealers now have the freedom to select from a wide choice of items offered by numerous companies in addition to price transparency and aggressive pricing thanks to nurturing. retail.
Manufacturers gain from this since they can now have more inventory on hand and provide merchants and dealers with more thorough access to a variety of goods, including those that are particularly formulated.
Due to its simplicity of use and availability in several languages (English, Hindi, Tamil, Telugu, and Gujarati), nurture. retail has become India’s emerging agritech app.