Agriculture Insurance

Client Description

Client is Myanmar’s largest manufacturer and distributor of agricultural technology that believes in their responsibility to improve the lives of farmers and Myanmar’s agricultural sector. Client was looking for a blockchain based solution for the agriculture insurance where the solution can use their existing geospatial, weather and crop data to facilitate insurance approvals for the farmers and minimize the providers risk.

Engagement Model
Offshore - Fixed Price
Client Location
Myanmar
Blockchain Service
Use Case Discovery and Solution Approach
Technologies
HyperLedger, Apache libraries & frameworks, TensorFlow, Google Cloud, AWS Cloud, Angular, Ionic, Node.js, SmartContract, IoT, Computer Vision
Target industries
Agriculture, Insurance

Value add

  • Risk Analysis & Mitigation
  • Faster & automated claim processing
  • Instant payment credit

Solution highlights

  • Blockchain based Climate Risk and Crop Insurance.
  • Yield protection, which protects the farmer from a lower yield
  • Iot based Weather linked insurance that covers for disasters or weather irregularities.
  • Simple data driven smart contract to list the criteria that would trigger a claim – without the farmer having to claim.
  • Tracking all information on weather and soil dampness from satellite data.
  • IoT based natural calamity, automatically trigger the claim, in near real time, using self executing contracts.
  • Regulatory guidelines for crop insurance firms and their profit margins.