Leads Connect Services, Ensuredit form joint venture
Leads Connect Services, an agricultural data, risk management and financial services company, and Ensuredit (an AI-based platform for efficiency in the insurance distribution cycle) have signed a Memorandum of Understanding (MoU) to establish a joint venture named “Leads Ensuredit Pvt Ltd”. .
A media release stated that the primary objective of the joint venture is to build a future insurance technology infrastructure that will provide comprehensive insurance solutions and drive innovation in the agricultural insurance technology sector. In the initial phase, the focus will be on expanding service offerings in the national and international markets.
She said Leeds Insuredit plans to hire an initial core team of seven to eight people, which will be expanded based on the needs of the business growth.
Leverage the power of agricultural technology
Quoting Amit Pune, CEO of Ensuredit, the statement said, “By sharing each other’s strengths, we will bring unique value to the sector. With Leads Ensuredit, we aim to make a positive impact by providing farmers with innovative agri-fintech solutions that enhance their productivity.” reduce risks, and improve the overall ecosystem.”
Leads Ensuredit represents an unprecedented opportunity to transform the agricultural landscape by leveraging the power of agritech, fintech, and insurance technology, said Navneet Ravikar, Chairman and Managing Director of Leads Connect Services.
“By combining our agricultural expertise with Ensuredit’s technological prowess, we are confident we can deliver ground-breaking financial inclusion that will empower everyone and contribute to the sector,” said Ravikar.
The statement said Leeds Connect has delivered projects related to remote sensing based crop health monitoring, crop acreage, crop yield estimations, risk and claims management services to various central and state organisations, insurance companies and reinsurers. Leads Connect used machine learning algorithms and satellite remote sensing analytics to develop a framework for yield estimation at the panchayat level, he said.