Track Four Infotec:Bringing Together the Stakeholders in a Seamless Environment
Combining many years of experience in the field of satellite remote sensing, data analytics and agronomy, Vijayawada and Bangalore based large are a analytics firm-SatSure, provides satellite enabled solutions for effective risk management in crop insurance and agri-banking sectors. SatSure has been winning award for its Agri Tech products. SatSure was a Top 3 award winner at the Global AgTech Pitch organized by the Government of AP and Bill & Melinda Gates Foundation in Vizag on Nov 17, 2017. It also became the first Indian company to receivean honorable mention at the Better Satellite World Awards from Space & Satellite Professionals International, UK.Satellite remote sensing data is becoming one of the most important and interesting data sources for agriculture. Through satellites, data acquisition for either the whole world or an area is achievable in a matter of hours. In India, climate change and weather shocks are impacting many sectors but the impact is more profound in the agriculture sector. SatSure's technology makes it easier to understand and manage the impact of these changes.
SatSure transforms satellite data into intelligence for government, insurance, reinsurance firms, seed and pesticide companies and banks. It leverages technological and financial advances in satellite remote sensing, Machine Learning, and cloud computing to provide timely, location-specific insights for a large area. SatSure's proprietary algorithms create crop indices that can be used by insurance companies. These indices clearly show the correlation between survey-based yield and acreage, and the predicted values of these parameters for crops and reduce the delay in assessing crop damage and estimating crop yield and acreage.
Intersection of Satellite Observation, Cloud and IoT
SatSure, with its ecosystem of satellite data, ground data, weather data, IoT, drone and academic partners, provides crucial near real-time information for critical questions related to agriculture over large areas such as entire states or even countries. These include in-season proactive crop yield, crop distress, harvesting readiness and progress, irrigation, soil health and impact of external factors like weather, drought and disease. SatSure provides this information for staples (like wheat, paddy rice, maize, etc), horticulture and cash crops (oil seeds, chilies, onion, potato, soyabean, etc.)
SatSure's platform can merge satellite data with other data sets like weather, IoT, drone data, economic data, etc. over large areas and over large time periods. Using years of archived satellite data, the potential of agriculture productivity is calculated and tallied with the previous records of crop patterns. This data analysis gives powerful and actionable insights to insurance firms and the Government to take critical decisions such as the loss thresholds, Minimum Support Price (MSP) of crops, etc. The satellite images acquired by SatSure also enable assessment of critical factors like the proximity to roads, warehouses, water sources, markets and other financial avenues.
Illuminating Data through Entire Value Chain
SatSure is primarily a B2B and B2G player, with a focus on infrastructure and agriculture sectors. SatSure’s information is valuable for the entire agriculture value-chain i.e. before the farm for insurers & banks, at the farm for intervention by agriculture input providers, farm mechanization providers and after the farm for produce markets, logistics providers and commodity traders.
The traditional touch-points between the insurance companies and farmers has been only two times during a crop cycle – during the process of sales and during the process of claims. SatSure is filling the void in between and also extending its value beyond it, through its ecosystem of data partners, technology partners, scientists and weather experts from academia and industry, financial technology and remote sensing specialists, and gradually empowering the socio-economic landscape of India. For insurers, the potential clearly exists for using technology to ensure implementation of agriculture insurance schemes in a sustainable and cost-efficient manner so that the farmer is benefited in a timely manner and uptake of crop insurance increases from the current 20 percent.
SatSure's proprietary algorithms create crop indices that can be used by insurance companies
Illuminating Data through Entire Value Chain
SatSure is primarily a B2B and B2G player, with a focus on infrastructure and agriculture sectors. SatSure’s information is valuable for the entire agriculture value-chain i.e. before the farm for insurers & banks, at the farm for intervention by agriculture input providers, farm mechanization providers and after the farm for produce markets, logistics providers and commodity traders.
The traditional touch-points between the insurance companies and farmers has been only two times during a crop cycle – during the process of sales and during the process of claims. SatSure is filling the void in between and also extending its value beyond it, through its ecosystem of data partners, technology partners, scientists and weather experts from academia and industry, financial technology and remote sensing specialists, and gradually empowering the socio-economic landscape of India. For insurers, the potential clearly exists for using technology to ensure implementation of agriculture insurance schemes in a sustainable and cost-efficient manner so that the farmer is benefited in a timely manner and uptake of crop insurance increases from the current 20 percent.
