security , WRMS has developed a global parametric insurance marketplace . This innovative platform offers a holistic approach , offering step-by-step functionalities that empower insurers and reinsurers to create , validate , and promote insurance products specifically designed for these farmers .
The platform goes beyond traditional insurance processes by incorporating digital beneficiary onboarding and product education , making it easier for smallholder farmers to understand and access coverage . Farmers can now seamlessly navigate the policy buying process , reducing barriers to entry . Moreover , the platform streamlines claim management and settlement procedures , ensuring that when adverse events strike , the response is swift and efficient .
By combining cutting-edge technology with a deep commitment to addressing the vulnerabilities of smallholder farmers , WRMS ' s parametric insurance marketplace aims to break the cycle of unviable debt and poverty that has haunted these communities for far too long . In doing so , it not only strengthens the resilience of these farmers but also contributes to the economic stability of emerging economies as a whole . Considering the already-gained traction , WRMS expects to scale SecuRisk to 50 countries by the end of 2024 .
AgriTech
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