Farmers Edge, announced a strategic collaboration with Munich Re. The trailblazing deal centers on a unique digital infrastructure that combines highly precise, site-specific datasets with science-based analytics and Artificial Intelligence to transform traditional parametric coverage models into scalable and profitable solutions for all stakeholders; growers gain top quality crop protection and instant payouts while insurers gain key insights and tools to more confidently mitigate risk, automate claims, and provide faster payouts to customers. Agricultural parametric insurance covers areas that are excluded from all-risks indemnity policies, such as excess moisture or heat, to protect growers against unpreventable high-intensity and catastrophic losses. These policies are designed to offer claim payouts as soon as events are triggered, eliminating the typical loss adjustment and reporting period. However, these parametric weather policies may carry significant risk across data-sparse regions due to insufficient publicly available data. The collaboration puts Farmers Edge and Munich Re at the forefront of insurance innovation, combating risks associated with parametric coverage while also establishing business resiliency amid the COVID-19 pandemic. Farmers Edge risk management platform—FarmCommand—provides a powerful avenue to securely automate all data transactions between growers and insurers, resulting in lower administrative costs and improved scalability. The platform delivers hyper-local, high-density insights, fueled by AI and robust datasets, such as daily satellite imagery and site-specific weather conditions, to detect claims and trigger instant payouts. Its Smart Claim™ and Smart Reporting™ tools power automated record-keeping, claim predictions and notifications, claim adjustments, crop classifications, and fraud detection. One crucial piece are the Farmers Edge weather stations installed directly on the farm. This acute level of precision, combined with Munich Re’s vast reinsurance expertise, provides growers with secure protection that mirrors the impact of weather events as they occur on their fields. While traditional claims can take months, these new, parametric solutions are designed to be completely automated by data and InsurTech features. FarmCommand houses and analyzes all data to detect and trigger claims automatically, creating more utility, security, and transparency for all stakeholders.