As stated in the first part of these series, a peep into AgroDomain’s key platform features indicates that the integrated agro start-up marketplace offers end-to-end support across the agricultural value chain, empowering agricultural industry players, irrespective of their size, with direct access to the market by way of bringing digital transformation that provides agricultural ecosystem in Nigeria in particular and entire sub-Saharan Africa in general.
The AgroDomain platform is designed in such a way that the end-to-end requirements of the agricultural value chain, are catered for seamlessly, using the power of innovative technology, which has more than ever before, assumed a very important position in modern agricultural activities.
Now, take a look at AgroDomain Agro-Insurance Hub, an agro-insurance marketplace where AgroDomain farmers and insurance companies along with brokers and agents come together to insure farms and agro-related businesses.
By using data from its various marketplace components, a farmer puts a request to AgroDomain that he/she wants to insure the farm or farm product providing pertinent data about the farm or products thereof.
And the way it works is that farmers are at liberty to choose the Insurance company of their choice amongst the participating insurance companies on the platform. Once the request is validated and submitted, the chosen insurance company will receive the request and evaluate the opportunities accordingly with either approval or rejection decision.
Farmers have options to choose multiple insurance companies based on his preference but can only accept one approved offer at a time. The farmer and the insurers have the option to complete all monetary transactions including premium payment using AgroDomain’s inbuilt payment processes or elect to do so outside of the platform.
AgroDomain runs an integrated and complete eWallet and Secure Payment platform that allows AgroDomain registered members to make and receive payments for all their platform related transactions.
User registration and Know Your Customer (KYC) processes are required to activate the wallet on the platform. Once registered and KYC verified, users can easily send and receive money from the eWallet without using any bank services.
The inbuilt eWallet module is designed with high-security features and integrates with a network of payments channels such as direct bank transfers, credit/debit cards payment as well as USSD functionalities. With the eWallet system, payments for transactions are transparent and seamless.
In AgroDomain, there is the innovative Farmers Digital Network component designed to put the power of Agro insights, analytics and solutions into the hands of farmers whether online or offline, wherever and whenever.
The intent is to empower AgroDomain members with operational insights and the ability to analyse and synthesize market-driven data on a real-time basis. It will also provide complete insight into the Agro Value Chain covering procurement and distribution for farm operations, farm inputs /supplies and credit information to partners that want to streamline and improve the efficiency of their agro operations.