AgriSompo Case Studies

AgriSompo Case Studies

These case studies depict actual scenarios and highlight the skills and expertise of AgriSompo’s client-focused team of professionals, dedicated to working hand-in-hand with our global agri-business partners. 

AgriSompo is an integrated underwriting, technology and distribution platform delivering innovative insurance and reinsurance solutions to agriculture partners worldwide. Through empowered local teams with a deep understanding of the markets in which they operate, we offer a full suite of risk transfer products to address the (re)insurance needs of this ever evolving market.

Case Study 1

Da Familia Paradise, Brazil

Da Familia Paradise is a generational, family-owned soybean farm, located in Parana State – South of Brazil. With changing environmental and weather patterns causing years of struggle, a solution to help offset any further potential financial losses was imperative. While taking a class at University, the farmer was made aware of a policy that could provide protection for the farm against various risks, including adverse weather conditions, in addition to a government subsidy that would pay for part of the cost of the crop insurance policy. Based on this knowledge, the farmer engaged a crop insurance broker and purchased an AgriSompo multiperil policy from Sompo Seguros.

The farmer has an average yield of approximately 50 bags of soybeans per hectare. The total cost to insure his crop would be an equivalent of 1.4 bags of soybeans, however since the government pays 0.4 % of this cost the farmer only has to pay for 1 bag equivalent soybeans to insure against a shortfall.

In the event of weather-related damage to the crops, Sompo Seguros will send a loss adjuster into the fields to verify the quantity of lost soybean crops and review the policy documentation. As soon as the claim has been confirmed, the farmer will be reimbursed for all covered expenses.

For more information on our agrictultural offerings in Brazil, please contact Sompo Seguros’ Marcio Martinati at [email protected].

Case Study 2

Azienda Della Valle, Italy

Azienda Della Valle is a family farm located in Alto Adige – in Northern Italy, that produces Fuji apples. Due to changing environmental and weather conditions which  have frequently caused severe crop losses, the Valle Bruna family purchases AgriSompo multiperil insurance policies from SI Insurance (Europe), SA (SIIE). The policies cover the apple crop against various risks, including hail, strong winds, frost, riverine flood and drought.

The Azienda Della Valle farm has an average yield of approximately 55 tons of Fuji apples per hectare. AgriSompo’s multiperil policies are part of the governmental support scheme. As a result, instead of incurring an equivalent cost of almost 12 tons of apples per hectare, Azienda Della Valle can buy the insurance at an equivalent cost of only 3.5 tons of apples per hectare. The remaining 70% of the full cost of the coverage is provided by the Italian government directly to AgriSompo.

In the event one of the insured perils damages the apple crop, SIIE will send a loss adjuster into the fields to verify the quantity and the quality lost, and review the policy documentation. As soon as the claim has been confirmed, the farmer is reimbursed for all covered expenses.

For more information on our agrictultural offerings in Italy, please contact [email protected] at A&A, a subsidiary of Sompo International.