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nurture.farm takes another step to improve farmers lives by partnering with HDFC ERGO

The partnership aims to provide farmers with financial security and enhance their resilience
to meet financial emergencies caused due to risks in agriculture

nurture.farm, India’s biggest AgTech start-up, has collaborated with HDFC ERGO General Insurance Business, a leading general insurance company in India, to improve and expand its insurance options for the platform’s 2.3 million farmers.

Farmers confront a variety of dangers throughout the farming cycle. Weather abnormalities affecting crop output, personal health hazards owing to the nature of work, and price variations in the commodities market resulting in significant revenue loss for farmers are among the concerns.

Most farmers do not purchase insurance because the premiums are too high and the paperwork is too time-consuming.

Because of the pervasiveness of this issue, nurture.farm plans to provide insurance solutions to roughly 2 million farmers in 2022-23.

It will continue to develop to give risk mitigation solutions to improve farmer resilience.

“Our farmers confront a variety of hazards, including pests, weather, price volatility, misfortune on the farm, and so on, due to India’s low insurance penetration. Due to a lack of product offers and insurance solutions to protect them from these hazards, they are financially weak and vulnerable to abuse. Our collaboration with HDFC ERGO seeks to alleviate farmers’ suffering caused by losses caused by unexpected and adverse conditions during the crop life cycle. This association will assist us in moving closer to our aim of making farmers resilient and providing sustainable outcomes to India’s farming community.”

Mr. Pranav Tiwari, CTO of nurture.farm,

“At HDFC ERGO, we are committed to bringing innovative insurance solutions for the rural community to provide financial security and also encourage sustainable farming. Considering the low penetration of crop insurance, the expansion of weather insurance products is imperative. We firmly believe in nurture.farm’s vision and look forward to a long and productive collaboration.”

Hiten Kothari, Appointed Actuary HDFC ERGO, said,

Nurture.farm is an open digital platform for producers, farming communities, and food systems on a mission to increase agricultural outputs, making them profitable and sustainable for future generations.

In addition, the organization just obtained a Corporate agency license from India’s Insurance Regulatory and Development Authority (IRDA).

This license allows nurture.farm to assist farmers in obtaining innovative insurance solutions at reasonable pricing.

In addition, nurture plans to provide farmers with farm-level insurance based on remote sensing, lowering agricultural, health, and revenue risks.

It is one of the primary missing links in India’s efforts to increase farmer resilience.
This article was shared with Prittle Prattle News as a Press Release.
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