Customer Success Story
Insurance Facilitators
About Insurance Facilitators
Insurance Facilitators (IF) are a specialist underwriting agency who insure broadacre and cotton crops in rural and regional Australia. The nature of IF’s business means that they predominantly work with brokers and loss adjustors, as well as re-insurers and underwriters.
Working in collaboration with intermediary partners is a unique aspect of the way they do business as a smaller firm.
In 2024, IF started working with DAS (Digital Agriculture Services) to reduce leakage for broadacre cropping properties - no simple task when farms have adjoining or scattered farm land, grow a variety of crops which are seeded at various times of the year and in some instances, need to re-seed crops.
Reducing leakage: A dual benefit for insurers and clients
Not only does leakage of premium result in increased loss ratios, it also has a knock-on effect – negatively impacting insurers’ rating structures but more importantly their willingness or reluctance to invest into the agricultural insurance market. For IF, addressing their exposure to this risk became a matter of priority.
'Partnering with DAS has given us greater visibility into the [land] we insure — we now have an enhanced ability to spread our risk, improving our loss ratio and shrinking the leakage on broadacre cropping'.
- Jon Gapes
Managing Director, Insurance Facilitators
Why DAS?
The DAS solution supports IF in closing the underinsurance gap with a specific focus on verifying the insurance status and details of affected paddocks by:
- Defining the full operational extent of client properties, and;
- Spatially locating insured paddocks
‘The advantages are manifold. IF reduces instances of leakage, the broker can maintain a true and fair cost for the farmer, and the farmer is not unnecessarily exposed to risk.’