Agriculture
Index triggers replace field visits, so a payout follows the weather instead of an assessor.
Weather station feeds and rainfall indices + Field IoT sensors
Where it breaks today
Verifying a loss means sending someone to the field.
Verifying a loss means sending someone to the field. On smallholder plots the visit can cost more than the claim.
Payouts take months. The money arrives after the planting window it was meant to protect.
Because verification is expensive, cover is priced for the few who can absorb the wait, and the farmers who need it most are not written at all.
What AXK does
Cover is written against an index, not against an inspection. Rainfall, temperature and soil-moisture thresholds are defined in the policy as rules.
Weather stations and IoT sensors feed the index. When the threshold is breached, the trigger fires for every policy in the affected area at once.
Payout is calculated from the index reading and the sum insured. There is no claim to submit and no assessor to schedule.
The same engine that runs health and motor runs the index. Donor and government programmes can subsidise premiums against a claims process they can audit.
What it reads from
- Weather station feeds and rainfall indices
- Field IoT sensors
- Farmer and cooperative enrolment registers
- Mobile money settlement rails
How it settles
The farmer is paid over mobile money against the trigger, not against a form.
The farmer is paid over mobile money against the trigger, not against a form. Cooperatives and aggregators can be settled in one batch keyed to the same index event.
The other lines
One engine, every line of insurance.
Building on agriculture claims?
Tell us what the claim looks like today and what evidence you already have. We'll tell you honestly whether AXK's rules engine is a fit.