Harnessing Off-Chain Agricultural Data
Farmers can enhance their crop insurance policies by integrating off-chain data such as historical crop yields, detailed weather reports, and soil quality assessments. This data provides insurers with a comprehensive view of the farm's history and potential risks.
Efficient Claim Verification
In the unfortunate event of crop failure due to unforeseen weather conditions or other external factors, insurers can swiftly verify the loss using the integrated data. This ensures timely compensation, helping farmers recover faster.