Multi-peril crop insurer Latevo has forged a new partnership with Geosys – a global agriculture company that provides insurers with up to 30 years of archived data, maps, and real-time data – to offer Australian growers a new low-cost MPCI product this 2018 growing season.
The new offering, called the Latevo Crop Monitor, is a custom application which integrates Geosys' Croptical monitoring application with Latevo's proprietary algorithms to provide variability maps with weather data in one tool, and help cut the cost of MPCI by nearly 70% compared to historic models.
"The addition of the Latevo Crop Monitor to both our underwriting and client offering is a massive step forward in helping our farmers achieve their potential yields,” said Latevo CEO Andrew Trotter. “The ability of Geosys to custom configure its Croptical platform to meet our innovative insurance solution is an absolute credit. Latevo Crop Monitor brings transparency to a new level, which is a key part in building grower confidence in crop insurance here in Australia.”