Agri-Financing and Crop Insurance: The Need for a Collaborative Revolution

Abstract

The agriculture sector, often described as the backbone of the economy, faces unique challenges that demand innovative solutions. Farmers, who toil tirelessly to feed the nation, are often left vulnerable to factors beyond their control, such as adverse weather conditions, pest infestations, poor seed quality, and fluctuating market prices. Unfortunately, the financial ecosystem, including banks and insurance companies, has yet to fully address these vulnerabilities. In this article, we delve into the pressing need for comprehensive agri-financing and crop insurance solutions, exploring the role of government policies, costing techniques, prevention methods, and cutting-edge technologies like artificial intelligence (AI).