Growers Edge Crop Plan Warranty compensates growers if crop output falls short with usage of new products and practices.
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Simple flat rate per acre pricing.
We can create a tailored Crop Plan Warranty for you.
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FAQ
What is the warranty in simple terms?
Now you can promote combinations of specific products and practices with a warranty. Growers who follow your agronomic recommendations while adopting new products and practices will be eligible for a warranty payment, if yields fall short of their benchmark.
How is the program managed, and how do you create systems and put aside administrative time to actually run the warranty program?
Growers Edge administers the offer on your behalf. We manage growers wanting to use that warranty, and they identify the fields where the crop plan is being used. We check to see if they followed the terms and conditions of the warranty, and we pay out when appropriate. All for a flat per acre fee.
Enhanced digital administration leads to faster and smoother administration with few touch points. We are flexible about monitoring and platform technologies – we can work with technologies that you have in place, or that the growers have in place. You have full control over the technology and data relationship with the grower both now and in the future.
You take it easy, as we take care of the headaches for you. So minimal hassle for you, and a major boost to your sales and profitability!
How do you pay the costs of creating a warranty program?
We arrange the program for you so that the cost is a simple flat fee per acre. The simple flat fee per acre includes all administration costs as well as Growers Edge covering the risk of valid warranty claims. Hello, easy budget and margin planning!
How are enough funds put aside to pay out a warranty if a customer puts in a claim?
If you wanted to offer something similar WITHOUT Grower’s Edge, you would have to start putting funds aside as a contingent liability. If a lot of claims are made, and your company didn’t put aside enough funds to cover them, your company could easily suffer significant financial loss. WITH our program, 100% of all eligible warranty payments are covered!
Could you explain more about how Growers Edge covers the risk of a decreased harvest?
Through a strategic relationship with Munich Re, Growers Edge has expanded its ability to offer our partners a flat per acre fee while covering the risk on their behalf. Munich RE is the leading global provider of reinsurance, primary insurance, and insurance-related risk solutions. They back our warranties – meaning that all eligible claims are covered by a large global entity that has been around for ages and can afford to pay out even large claims. So you and your growers can place your trust in our crop plan warranties.
Munich Re’s technological due diligence has proven the feasibility of the Crop Plans that Growers Edge provides. The AI-based and data-driven solution’s reliability is strengthened by Munich Re Group’s insurance backing, which enables the growers to gain additional confidence in the outcome.
Are crop warranties just about making more money?
Profits are a big part of it, but there’s more! It’s also about being your growers’ trusted advisor that can help them solve their most pressing problems. When you believe that specific combinations of products and practices are better, you owe it to growers to find ways to take the fear out of giving it a shot. After all, they work really hard every day to provide for our country’s tables, and when they do better, we all do better.
Who gets credit for offering the warranty program - my company or Grower’s Edge?
You get to take full credit! This is a white-labeled offering. Our objective is to position you as an innovative ag retail partner in close touch with the needs of your customers. Go ahead and outshine the competition.
We will be retiring Farm Manager soon. Please contact us with any questions or concerns, and for information about our other agriculture fintech and data solutions that can help you build a more sustainable farm.
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