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Updated on: Wednesday, September 22, 2021, 02:43 PM IST

Telangana govt MoU with Wingsure, to provide personalized insurance, advisory services to farmers

Wingsure will provide deep-tech-based personalized crop insurance products and advisory services to small, underserved farmers in the state./Avi Basu, Founder and CEO of Wingsure, | Wingsure

Wingsure will provide deep-tech-based personalized crop insurance products and advisory services to small, underserved farmers in the state./Avi Basu, Founder and CEO of Wingsure, | Wingsure

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The Telangana government has entered into an agreement today with Wingsure, an insurtech venture spin-out of SRI International (formerly Stanford Research Institute) that leverages artificial intelligence and deep technology to protect farmers worldwide.

As a part of the agreement, Wingsure will provide deep-tech-based personalized crop insurance products and advisory services to small, underserved farmers in the state.

The Information Technology, Electronics & Communications (ITE&C) Department of the Government of Telangana 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 prioritizing 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. It will provide advice and expertise on risk mitigation specific to crop, climate, and a few other critical areas through Wingsure's platform.

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 customized advisory, training, and facilitate rapid insurance claims through its mobile-based platform.

Jayesh Ranjan, Principal Secretary, ITE&C, Telangana government, said, "The association with Wingsure will ensure hyper-local data correlation with deep technology to deliver numerous services for the individual smallholders."

Avi Basu, Founder and CEO of Wingsure, said, "We are excited at the possibilities of this partnership, where 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."

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Published on: Wednesday, September 22, 2021, 02:43 PM IST
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