The global agriculture crop insurance market is anticipated to grow at a CAGR of 6.1% during the forecast period. The new product development and launches by the key vendors such as Agritask, Farmers Edge, and Tokio Marine HCC in the market further fuel the growth of the global agriculture crop insurance market during the forecast period. For instance-
March 2020- Farmers Mutual Hail Insurance Company of Iowa (FMH) announced a partnership with TruAcre LLC, further expanding FMH's investment strategy in the future of digital ag solutions. The investment in TruAcre assist the company to grow, but also help FMH continue to advance its leadership position in providing digital agriculture solutions to ag insurance agencies and customers.
April 2020- Agritask partnered with Royal Exchange, to launch a joint initiative to digitise crop and livestock insurance. The insurance with key performance indicators (KPIs) aims to underwrite one million smallholder farmers in Nigeria by 2025. The insurance initiative has several stakeholders connected to the agricultural sector and beyond such as banks, co-operatives, ag-consultants, input distributors and ag-buyers.
Browse the full report description of “Agriculture Crop Insurance Market & Trends Analysis Report by Coverage (Multi-Peril Crop Insurance (MPCI), Crop-Hail Insurance, and Livestock Insurance) by Distribution Channel (Banks , Insurance Companies, Brokers/Agents, and Others) Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/agriculture-crop-insurance-market
June 2020- Farmers Edge, announced a new partnership with Palliser Insurance. This strategic alliance enables Palliser Insurance to simplify hail claims and provide superior coverage to growers using the industry’s most comprehensive risk management platform—FarmCommand. Additionally, Palliser Insurance growers has leverage access to a powerful crop monitoring solution from Farmers Edge to support in-season decision making, ensure timely identification of crop damage, and simplify management of all critical claim data.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2021-2028
• Segment Covered- by coverage, by distribution channel
• Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
• Competitive Landscape includes- Chubb’s, Great American Insurance Group, ICICI Lombard General Insurance Co. Ltd., QBE Insurance Group Ltd., Zurich American Insurance Co., AXA XL, Bajaj Allianz General Insurance Co. Ltd., and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Agriculture Crop Insurance Market– Segmentation
by Coverage
by Distribution Channel
Global Agriculture Crop Insurance Market by Region
North America
• US
• Canada
Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
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