Telangana government pact with Wingsure
The alliance with US-based insurtech platform is among the first in the global farming ecosystem and will help the State to promote social inclusion and digital transformation in agriculture
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Hyderabad: The Government of Telangana has entered into an agreement with farmer-first digital insurance solution Wingsure on Wednesday. The US-based insurtech platform, spin-ff of SRI International (formerly Stanford Research Institute), leverages AI and deep technology to protect farmers worldwide.
As a part of the agreement, the company will provide deep-tech-based personalised crop insurance products and advisory services to small, underserved farmers in the State. As the farmers are vulnerable to the impact of climate change and other livelihood risks, they need sub-optimal access to risk awareness programmes, modern resources, and government-backed schemes.
The alliance is among the first in the global farming ecosystem and will help the State to promote social inclusion and digital transformation in Indian agriculture. Overall, it will support the government's objectives to promote economic empowerment and offer opportunities for collaboration, innovation of value chains, growth, and job creation.
Jayesh Ranjan, Principal Secretary, ITE&C, Telangana government, said: "Technological advancement and implementation are ways to transform agriculture. Our government has identified agriculture as the priority sector and recognises the importance of AI and other emerging technologies in elevating agricultural productivity and improving the livelihood of the farmers in the State.
The association with Wingsure will ensure hyper-local data correlation with deep technology to deliver numerous services for the individual small holders."
Avi Basu, Founder and CEO, Wingsure, said: "The government of Telangana's vision and understanding of the role of emerging technologies in impacting 20 million lives has led to the early adoption and implementation of AI in agriculture, for accelerated economic growth and inclusive social development.
Wingsure's deep-tech platform for comprehensive risk resilience, including risks related to climate change and our meaningful engagement with farmers and all stakeholders in the agricultural value chain, will be instrumental in delivering broad-based impact for the farmers."
