Digitalization of Farmer Insurance
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Need for agri-insurance among smallholder farmers
About 84% of the 570 million farms globally belong to smallholder farmers, who cater to anywhere between 70%-80% of the world’s food needs. Smallholder farmers are constantly threatened by financial uncertainties caused by natural calamities that are beyond their control. Climate change is the biggest cause for this uncertainty. Frequent extreme weather events and growing occurrences of pests and diseases are increasing financial losses for farmers in developing countries, affecting their livelihood.
