The Government of Telangana has entered into an agreement today with Wingsure, an insurtech venture spin-out of SRI International, that leverages artificial intelligence and deep technology to protect farmers worldwide. As a part of the agreement, Wingsure will provide deep-tech-based personalised crop insurance and advisory services to small, underserved farmers in the state.
Agriculture and the allied sectors are the largest sources of livelihood in India, with most rural households dependent primarily on agriculture and 85 per cent of landholdings being small and marginal. However, farmers are vulnerable to the impact of climate change and other livelihood risks. They have 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 Telangana 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.
The Department of Information Technology, Electronics & Communications (ITE&C), Government of Telangana will guide and facilitate the implementation of the solution. The agriculture department will offer on-ground implementation through its existing network. It will assist in prioritising and disseminating critical training and advisory services for the farmers, including data acquisition. Professor Jayashankar Telangana State Agricultural University (PJTSAU) will offer its domain expertise through its research centres across the state. It will provide advice and expertise on risk mitigation specific to crop, climate, and a few other critical areas through Wingsure’s platform.
Wingsure will collaborate with government agencies to develop a ground distribution strategy by leveraging its deep-tech platform, including AR (Augmented Reality), AI (Artificial Intelligence) and ML (Machine Learning)-based personalised solutions, along with voice bots and natural language processing, to allow farmers to communicate in their native language. It will curate and distribute crop and other general insurance products via its network of insurers and broker partners. It will also provide customised advisory, training, and facilitate rapid insurance claims through its mobile-based platform.
Speaking on the partnership, Jayesh Ranjan, Principal Secretary, ITE&C, Telangana 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 smallholders.”
Highlighting the collaboration, Avi Basu, Founder & CEO, Wingsure, said, “The government of Telangana’s vision and understanding of the role of emerging technologies in impacting 20 million lives have led to the early adoption and implementation of AI in agriculture, for accelerated economic growth and inclusive social development. We are excited at the possibilities of this partnership, where 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 Telangana farmers.”
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