Agricultural insurtech offers lifeline for smallholders (Business Fast)

Business Fast (UK) published an article on how the effects of climate change heighten the risks in agriculture and food production, the need to protect smallholder farmers has never been greater. ‘Farming is risky. Once you have insurance you create a foundation” said Pula insurance founder. Several other crop failure microinsurance initiatives are also under way to support communities vulnerable to climate shocks. Among its various agricultural insurance projects, IFPRI has been looking at picture-based insurance. This enables farmers to use their smartphones to take pictures of their crops, which helps to minimize the costs of loss verification and makes crop insurance more accessible to them.