Kathmandu. PlantSat and Aurasure have announced a strategic partnership to streamline decision-making by providing timely, timely and reliable environmental information at a time when climate risks are rapidly increasing.TAG_CLOSE_b_27
With this collaboration this week, Plantsat has an opportunity to leverage Aurosure’s meteorological information technology from Indian company Aurasure for the benefit of Nepalese farmers, which is seen as a major achievement in South Asia’s climate risk management and agricultural insurance sector.
{{TAG_OPEN_p_36} For a long time, there have been serious problems in the agricultural insurance sector such as fragmented data, delay in claim payment and erroneous information. As a result, both farmers and insurance companies have to bear losses. The two organizations have partnered to solve this problem.
Under this partnership, Plantsat’s satellite-based parametric insurance solution will be integrated with Arasure’s IoT-enabled Internet of Things (IoT-enabled) state-of-the-art local weather information technology.TAG_OPEN_p_35
Nepalese company, PlantSat is working on a parametric insurance solution that can be automatically paid instantly without the hassle of paperwork based on satellite and weather data. The Indian company, AurSure, operates a network of IoT weather stations that collect real-time weather information at ground level.
Satellite views from space combined with data measured by sensors on Earth will help accurately assess risk, improve early warning systems, and strengthen disaster preparedness.
Benefits to farmers and insurance sector:
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Prompt Payment: End the months of waiting for claim payment and farmers will get paid immediately.
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Accurate Statistics: The terms and risk of insurance claims will be more scientific and accurate.
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Wide Access: The technology has been launched targeting more than 15 crore farmers in India, most of whom do not have access to effective insurance coverage.
} PlantSat’s campaign started in Nepal in 2019 with the aim of helping farmers make wise decisions through satellite technology. g. The partnership promises to make climate risk reduction solutions more accessible, reliable, and effective for insurance companies, governments, and agricultural stakeholders.
