On 5th October 2020, Reliance General Insurance Company Limited (RGICL), a 100% subsidiary of Reliance Capital announced its partnership with bengaluru based SatSure Analytics, a wholly owned subsidiary of SatSure AG, Switzerland to improve its operations of its crop insurance business and satellite based crop monitoring and predictive analytics support for risk management.
Note:
SatSure Analytics provides agriculture data infrastructure through SPARTA, a proprietary platform and decision analytics through SAGE across agriculture, Climate change and infrastructure sectors.
Aim of the partnership:
RGICL partners with SatSure with a goal to create a successful crop insurance by investing in technology and innovations.
Features:
i.RGICL will provide the extensive ground observation data and will generate timely reports through the SAGE platform of SatSure, combining the analysis of Earth Observation Data this will address the key factor of the crop health, soil moisture, crop sown area, crop yield estimation and crop loss estimation.
ii.This partnership enables timely and efficient insurance servicing and will enable the effective and remote monitoring of the business risks which will enhance the accuracy and predictability level.
iii.This partnership will enable financial inclusion of farmers by empowering insurance and finance institutions with capacity, intelligence and outreach to service farmers.
Recent Related News:
i.Universal Sompo General Insurance Company Ltd has collaborated with BSE EBIX Insurance Broking Private Limited (BSE EBIX) to sell General Insurance products in a fully digital environment using the distribution network of BSE EBIX. The partnership was initiated with the issuance of the recently launched Corona Kavach cover of Universal Sompo General Insurance Company Ltd through certified Point of Sales Persons (PoSPs) of BSE EBIX.
About SatSure:
CEO & Co-Founder– Prateep Basu
Headquarters– Goldach, Switzerland
About Reliance General Insurance Company Limited(RGICL):
Executive Director & CEO– Rakesh Jain
Headquarters– Mumbai, Maharashtra
