Reliance General partners SatSure Analytics for crop insurance biz

Reliance General Insurance said it has partnered with SatSure for satellite-based crop monitoring and predictive analytics support for risk management and to improve efficiency of its crop insurance

Reliance General Insurance on Monday said it has partnered with SatSure for satellite-based crop monitoring and predictive analytics support to better risk management and improve efficiency of its crop insurance business operations.

As part of the partnership, RGICL will supply extensive ground observation data and generate timely reports through SatSure Analytics' SAGE platform, combining the analysis of Earth Observation data, the company said in a release.

It will help address the key areas of crop health, soil moisture, crop sown area, crop yield estimation and crop loss estimation, the company added.

"We are committed to invest in technology and innovation to make crop insurance a success and our partnership with SatSure is aligned with this goal. It's a key step in our customer-centric approach for timely and efficient insurance servicing while being able to effectively and remotely monitor the business risks," said Rakesh Jain, ED & CEO, Reliance General Insurance.

The insurer said it is in 4th year of successful execution of its crop insurance business and has always relied on technology to strengthen its capabilities.

"This partnership is in-line with our commitment as an organization to enable financial inclusion of farmers by empowering insurance and finance institutions with capacity, intelligence, and outreach to service farmers," said Prateep Basu, CEO of SatSure Analytics.

RGCIL is a 100 per cent subsidiary of Reliance Capital.