SAN CARLOS, Calif. – One of the largest independent farmer-to-farmer networks, Farmers Business Network, Inc. (FBN), is now offering farmers a full range of crop insurance products and service through its affiliate FBN Insurance LLC., which empowers farmers to mitigate risk, make smarter coverage selection, and reduce the time and hassle that often goes into insurance processing.
“We utilize the farmer’s data, whether that’s agronomic yield history that we’re already collecting or weather data that’s related to their farming operation, and combine that with our system to automatically find some of the better recommendations they would have,” said Lucas Strom, head of insurance at Farmers Business Network.
The system gives farmers access to all of the insurance products available through federal programs as well as private offerings, including hail and wind supplemental products.
“Some of the process is offline through our agents where we run it through our models to create scenarios and options for our farmers,” said Strom. “We use our system to take criteria from a policy and find out which farmers those options would make the most sense for.”
Farmers can ill afford to have a negative impact on their bottom lines over the long term, which having the wrong level of insurance coverage can cause. Whether a farmer is overpaying on premiums year after year or undercompensating for risk, Farmers Business Network Insurance uses data to match an operation with the right risk mitigation plan, giving farmers the confidence in coverage they deserve.
“In traditional insurance models you sit down with a farmer to figure out what works for them,” said Strom. “We can do that with more precision to help farmers avoid one of the biggest issues in the market, which is getting the wrong advice, too much coverage, or too little coverage. It’s a data-driven decision and the combination of our data science team and our analytics team run scenarios and create the absolute best recommendations with our farmers.”
Coverage with confidence
FBN now offers the full suite of federally subsidized crop insurance products that are personalized, smart and simple. With more than 26 million acres of data, farmers don’t have to follow the crowd anymore on coverage. With advice from experienced agents, combined with FBN-powered data, farmers now can find personalized and the right coverage for their farm.
Free risk assessment
No two farms are identical, so farmers crop insurance shouldn’t be either. Farmers can now get a free risk assessment from FBN using anonymized and aggregated data (operational data, weather data, and more) to get a holistic risk management strategy personalized for each operation. Take a picture of your existing schedule of insurance, and FBN will do the rest.
Nationwide reach with a local team
With nationwide reach, FBN has an experienced and localized agent team, backed by FBN data to help farmers make the best decisions for their operations unique risk profile.
Insurance with Ease and Simplicity: Through FBN-exclusive technology, FBN will be able to help eliminate tedious, lengthy paperwork and outdated processes.
Farmers First approach
FBN Insurance provides what farmers have come to expect from FBN; data-driven advice and options driven by what’s fair and best; through a more seamless end-to-end experience, customized insurance options with simplicity and ease, farmers will have confidence they are getting the right coverage for their operation.
“We’re working toward making crop insurance decisions easier for farmers through the use of technology. Data shows what the right decisions are, but it’s also to streamline to make the entire process easier. Once decisions are made, the online experience throughout the growing season with online reporting simplifies the process,” Strom concluded.