Content ID

282618

Growers Edge Financial Offers Fintech Solution

Despite the billions of dollars invested in ag tech innovations and their potential to help farms increase their output, adoption of new technologies has been slow among farmers.

It’s not that farmers are tech averse; rather, they are tech impatient. Technology has to work, but it also has to solve a problem.

“Historically, innovation has taken over a decade to deploy on the farm. We need to break down the adoption barriers so farmers can readily embrace ag innovations,” says Sanjeev Krishnan, CIO and managing director, Seed2Growth Ventures.

To improve a grower’s appetite for novel digital technologies, Growers Edge Financial is unveiling a lineup of fintech solutions based on the Growers Analytic Prediction System to accelerate the adoption of ag tech innovations while managing risk.

“Growers Edge has created an unmatched network of technology, insurance, and farm partners,” says Arama Kukutai, cofounder and partner, Finistere Ventures. “Using fintech to accelerate farm adoption, Growers Edge will empower farmers to embrace a more profitable ag era, while helping technology players and farm insurers/lenders drive more value – all with less risk.”

Derisking Adoption

To serve the crop planning and price discovery needs of more than 50,000 users across the U.S., Growers Edge GAPS combines data from local growers, ag tech vendors, lending, and insurance partners. It ingests and analyzes grower-level soil, seed, weather, and financial data; ag tech field data from technology deployment results;  insurance data including comprehensive yield history and field-level loss causes; as well as lending data such as credit behavior history.

“Adopting a new technology exposes the farm to financial and operational risk, but Growers Edge is changing that,” says Joe Young, president and COO of Growers Edge. “Our proprietary system brings together the most powerful and comprehensive array of data and allows us to design better solutions and tools for all ag ecosystem players to increase their profits in a time when market growth is increasingly difficult.”

Through a mix of analytics, lending, and risk-management solutions based on its machine learning platform, Growers Edge helps:

  • Growers and farmers get income assurance through guaranteed farming results, risk-free access to novel technology and products, an intuitive comparison-pricing tool, and farm-specific agronomic prescriptions.
  • Agribusiness and ag tech players achieve market share growth and pricing integrity through private-labeled products, predictive analytics such as marquee grower identification, and a comprehensive AgTech Validation Index with efficacy ratings.
  • Distribution channels enhance their competitive advantage with software tools such as the Growers Edge Agency Advisor, Portfolio Analyzer, and Coverage Price Discovery.
  • Financial services get a deeper understanding of potential risk through the Growers Edge advanced ag analytics platform and grower risk scoring, which provides a predictive benchmark of farmer behavior.

“Traditional risk pricing has been based solely on historical, farm-level information. Growers Edge allows me to look ahead and easily run what-if profit scenarios for my customers,” says Kevin Hooper, Buckeye Crop Insurance Plu. “It demystifies farm profitability, and it helps set me apart from my competitors so I can close more deals.” 

Using advanced machine-learning analysis, Growers Edge GAPS uncovers unique insights into grower behaviors, farm profitability, and ag tech effectiveness to generate accurate Grower Score and AgTech Indexes so farmers can confidently take advantage of its custom Agronomic Prescription Products.

“Growers Edge delivers the bottom-line protection and income assurance farmers need to take the leap,” Krishnan says.

The Growers Edge mobile app is available for iPhone and Android. For more information on the Growers Edge platform, visit growersedge.com

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