Sompo International Holdings Ltd. has announced that it has entered into a strategic partnership with CropTrak™, a provider of technology solutions for the food and agriculture markets.
The new partnership is an extension of the 2016 agreement, which resulted in a partnership between CropTrak and ARMtech Insurance Services, a wholly-owned subsidiary of Sompo International.
CropTrak’s software enables growers, enterprise food and agriculture-business firms to measure and increase the sustainability, traceability, and regulatory compliance of crop production, says the announcement. And by utilising the software platform’s real-time monitoring, reporting and predictive analytics, CropTrak clients can improve farm and food production practices.
The announcement on the partnership states that for insurance agents, growers, and agriculture-businesses, the new partnership provides enhanced insurance and risk management solutions.
Brian Goshen, Chief Administrative Officer, Sompo International, is set to join the CropTrak Board of Directors. Goshen commented: “We look forward to partnering with CropTrak as we continue to enhance our crop insurance capabilities and expand our presence in the U.S. through ARMtech and the global markets we serve through AgriSompo. By leveraging cutting edge technology solutions, we will deliver enriched insurance products, solutions, and customer experiences across a wide range of agribusinesses globally.”
Michael Smith, Chief Executive Officer (CEO) of ARMtech, added: “Expanding our existing relationship with CropTrak enables us to provide our agriculture clients with AgKeeper’s best-in-class technology to support product traceability and sustainability. ARMtech’s reputation is built on extensive agribusiness experience and exceptional customer support, so AgKeeper’s capabilities will expand the crop insurance solutions and productivity-enhancing tools we offer to our farmers and agents.”
And Aaron Hutchinson, President and Cofounder of CropTrak, said: “We are pleased to expand our existing relationship with ARMtech into a strategic partnership with Sompo International. We look forward to combining our leading-edge technology solutions with their expertise in crop insurance and risk management to enhance the global suite of products that we offer our premier food and agriculture clients.”