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The Telangana Government has entered into an agreement with Wingsure, an insurtech venture spin-out of SRI International.
As a part of the agreement, Wingsure will provide deep-tech-based personalised crop insurance products and advisory services to small, underserved farmers in the State. “The association with Wingsure will ensure hyper-local data correlation with deep technology to deliver numerous services for the individual smallholders,’’ Jayesh Ranjan, Principal Secretary, ITE&C, Goverment of Telangana said in a release.
Avi Basu, Founder and CEO of Wingsure, said, “Wingsure’s deep-tech platform for comprehensive risk resilience, including risks related to climate change and our meaningful engagement with farmers and all stakeholders in the agricultural value chain, will be instrumental in delivering broad-based impact for the Telangana farmers.”
The alliance is among the first in the global farming ecosystem and will help Telangana to promote social inclusion and digital transformation in Indian agriculture.
Economic empowerment
Overall, it will support the government’s objectives to promote economic empowerment and offer opportunities for collaboration, innovation of value chains, growth, and job creation.
The ITE&C Department will guide and facilitate the implementation of the solution. The agriculture department will offer on-ground implementation through its existing network. It will assist in prioritising and disseminating critical training and advisory services for the farmers, including data acquisition. The Professor Jayashankar Telangana State Agricultural University (PJTSAU) will offer its domain expertise through its research centres across the State.
Also read: Stakeholders call for need-based planning to help Telangana farmers shift away from paddy
Wingsure will collaborate with government agencies to develop a ground distribution strategy by leveraging its deep-tech platform, including AR (Augmented Reality), AI (Artificial Intelligence), ML (Machine Learning)-based personalized solutions, along with voice bots and natural language processing, to allow farmers to communicate in their native language.
It will curate and distribute crop and other general insurance products via its network of insurers and broker partners. It will also provide customised advisory, training, and facilitate rapid insurance claims through its mobile-based platform.
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