To meet the long-term demand for food, it is necessary to have comprehensive risk management tools helping farmers in their business. Munich Re sees public-private partnerships (PPP) as the strongest possible basis for an intelligent solution, in which farmers, government and the insurance industry work together.
In the context of PPP and insurance-based risk management solutions, Munich Re has developed SystemAgro. Successful crop insurance systems have been in use for over 35 years and provide insurance coverage for more than 200 million hectares. Munich Re has analysed these systems and included the most successful aspects in SystemAgro. This system aims to help farmers face the challenges of the future.
Munich Re brings farmers, government and specialist insurers together and uses SystemAgro to develop the best-possible sustainable solution, which draws on Munich Re’s wide-ranging expertise and global business partnerships.
Munich Re combines high-tech components such as precision farming, remote sensing and state-of-the art harvest technology to be able to implement SystemAgro in any region of the world for any size of farming operation.