Archipelago
Flourish
Archipelago
Flourish

BRINGING GROWTH,
INGENUITY & EXPERIENCE
TO MARKETS

ABOUT

Flourish is a farmer’s app with farm husbandry tracking and monitoring. Integration with insurers for claims notification and allows risk management and support claim adjudication. Empowering farmers with the power of technology to control and manage their farms input.


Product Summary

Data collection via mobile app on a regular basis builds up historical and trending data for deep insights, where applicable, mandated or standard insurance assessments can be replaced or guided by data entry.

Utilising historical data and post loss-event data from the app collected data, the insurer calculates the precise extent of the damage and simplifies the policy renewable process.

Farmers are able to report losses due to weather or other insured risk events.

PROBLEMS

IN MARKETS

Like 80% of economic sectors...

Agriculture

Renewables

Gas & Energy

Transport

Construction

Public Sector

… your business may be impacted by

CLIMATE RISKS


Excess
Rainfall

Drought

Flooding

Storms

Heatwave

Wildfire

Earthquake

80%

Of economic sectors are frequently impacted by weather anomalies

$520BN

Average annual cost of natural hazards to the global economy

US$162.5BN

Global insurance gap in 2018, leaving businesses and governments without insurance to rebuild and recover from natural disasters

90%

Of economic losses due to natural disasters in developing countries are not covered by insurance

OUR
SOLUTION

We use indices that measure those exposures to

offer parametric insurance solutions.

Parametric insurance relies on indices that are correlated to your actual losses:


Temperature

Rainfall

Wind Speed

Yield

Magnitude

If the index reaches
a predefined threshold...

.. you receive a payout of a predefined amount within a few days or weeks




AGRICULTURE INSURANCE PRODUCTS

Index-Based Insurance

Index-Based Insurance

Aquaculture Insurance

For aquaculture farms and ornamental fishes

Livestock Insurance

For cattle, goats, sheep, poultry and pigs

Equine Insurance

For horses in occupation

Exotic & Pets Insurance

Customised products for exotic animals and pets

DUAL BENEFITS OF FLOURISH

The truth is, the interest of farmers and insurers are well aligned, which is to reduce risk and cost, while increasing yield and efficiency.

The Flourish scheme delivers exactly this through actionable information - faster, and at a lower cost!

NOW

FUTURE

INSURER
Claims are hard to quantify and can be subjective
Accurate assessment through quantitative claim data – increase transparency and eliminate fraud
Limited ability to manage moral hazard
By giving farmers the tools to improve, insurers create a pool of customers that actively reduce their risk over the life of a policy
Standard re-insurance rates
Better information and greater confidence means improved re- insurance rates
Time and resource cost of mandatory assessments
Germination, husbandry and pre- harvest assessments delivered in one simple platform
FARMER
Significant annual expense, that does not increase yield
Insurance that gives them the tools to manage their farm more efficiently
Lack of trust in the claims process
Secure in the knowledge that payment will reflect the loss, and it will be quick
Transactional relationship
Partnership – working together for mutual benefit

FLOURISH APP

GLOBAL AGRICULTURE

WE’RE TALKING ABOUT AN INDUSTRY
WORTH 3.2 TRILLION U.S. DOLLARS!

Across the globe, agriculture continues to be a growing and essential industry with a 6.3% contribution to the Gross World Product

There are 570 million farms worldwide.

90% of it are run by individuals or families and rely on family labour and get this: 80% of the world’s food is being produced by family farms.

  • Farm Monitoring with Unique IDCreator
  • Add Multiple Livestock or Crops
  • Husbandry Tracker
  • Insurance & Claims Tracking
  • Food Traceability
  • User-Friendly Interface

Flourish empowers farmers with the power of technology to control and manage their farm’s input and output

THE UNIQUE

ARCHITECTURE

OF FLOURISH

Level l :
  • Data collection and optimisation for herd population management (government)

  • Analytics and data exchange with authoritie

Level 2 :
  • Husbandary Practice Record

  • Reporting and Farm Database

  • Manage policy and claim

Level 3 :
  • Farm data collection points

  • Engagement with Insurers

FLOURISH
ENCOURAGES
ADOPTION

OF BIOSECURITY

Biosecurity is important for a number of reasons

First, it is an essential aspect of on-farm food safety programmes. Keeping food products wholesome and at its highest quality is important for the health and well-being of consumers. This helps to ensure consumer demand for products, and therefore ultimately the profitability of animal agriculture enterprises.

Secondly, biosecurity should help keep animals healthy and more productive. This benefits the farming community through greater efficiency and profitability, as well as the animals through experiencing less disease.

Finally, a vibrant agricultural community is a positive influence on the economy of our state and nation, and an important resource in maintaining a healthy environment.

FLOURISH KEY TAKEAWAYS

Built with
comprehensive support with in-house expertise

Intelligent app with integration with insurer

Support and assistance on digitalisation of insurer

Unique revenue generating proposition

Future plans on full traceability and smart farming integration

Reinsurance
capacity

Experienced and digital savvy team

Address, design and implement localized products