Affinity pilot project for insurance of Ukrainian farmers

GrECo Ukraine, together with insurance partner ARX Ukraine have launched the pilot project for the Affinity parametric insurance solution for Corteva Agriscience customers.
The solution covers crops such as corn, sunflower, wheat and barley against drought as well as the possibility to monitor the insured soil moisture index through the MeteoControl platform which has become a partner and IT provider of this project.

Applying for the cover is very simple and easy by filling out an application form on the Meteocontrol.ai website.

In parametric insurance, a certain parameter which cannot be influenced by the agricultural producer is insured. Affinity parametric insurance refers to a solution which is distributed by an entity to the end customers, here the farmers. The GrECo Group is specializing in insurance solutions and affinity schemes for dedicated industries.

Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry – including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont.

The GrECo Group offers its clients individual solutions in risk and insurance management and is the leading insurance broker & consultant for corporations, associations and authorities in CESEE. The Group is an independent, family-owned company, headquartered in Vienna and employs 1.000 people in 57 offices in 16 countries.

ARX Insurance Company is part of the international Canadian insurance group Fairfax Financial Holdings, which has been successfully operating in the Ukrainian market for 25 years, 11 of which are under the AXA Insurance brand.

MeteoControl is a Ukrainian insurtech startup that helps farmers to insure unusual weather conditions using modern software solutions. With the help of Meteocontrol online platform, farmers will be able to apply for the insurance program, generate documents for signing, and track the current soil moisture level and the probability of receiving refund.