Johnston-based fintech Growers Edge announced last week a strategic relationship with Munich Re in Germany, a provider of reinsurance, primary insurance and insurance-related risk management. According to a news release, the relationship between the two companies will bring together Growers Edge’s data and analytics and Munich Re’s experience in reinsurance to help increase efficiency and reduce risk for ag partners to offer Growers Edge’s warranty-backed crop plans to their farmer customers.
“Munich Re is one of the world’s most sought-after risk partners for businesses. This new relationship comes at a critical period in the history of the agriculture industry,” Ahraz Husain, vice president of data at Growers Edge, said in a prepared statement. “With the uncertainties surrounding adopting sustainable practices and other new products and practices, providing options with innovative leaders like Munich Re is important as we scale our business.”
Growers Edge’s crop plans and lending products help partners bring risk-mitigating solutions that help their farmer customers adopt new technologies and practices that can improve yields and otherwise be too costly or intimidating, the release said.