The scarcity of data and trustworthy information related to the Brazilian rural territory and its many variables, such as climate, location, soil, among others, end up intimidating the supply of insurers and their products to farmers.
With the high risk generated and maximized by the scenario described above, prices are high, making insurance somewhat less of a priority for farmers – who already have many complex spending decisions to make. As a result, rural insurance now accounts for less than 15% of Brazil’s agricultural land, compared to more than 85% of the land cultivated in the United States and 65% in China.
With better access to reliable data and information, insurers could make strategies and products more appealing and appropriate for the industry. The business that is currently equivalent to R$ 1.6 billion has capacity to reach R$ 7.4 billion.
The AgroTools RISK digital solution gives insurers access to each client’s territorial information on a single geographic platform, being able to provide a real point of view of the operation and its risks, connecting the rural territory to the corporate insurance world.
It’s about the digital transformation of rural insurance.