THE RISKS AS­SO­CI­ATED

Finweek English Edition - - Techtrends -

with mod­ern agri­cul­tural pro­duc­tion are com­pa­ra­ble to cli­matic un­cer­tainty. To be un­pro­tected in the face of prices and world­wide com­pe­ti­tion takes a great deal of courage. “South Africa’s farm­ers have no choice but to com­pete on the in­ter­na­tional mar­kets,” says San­tam Agri­cul­ture head To­bias Doyer. “With vir­tu­ally no Gov­ern­ment as­sis­tance – un­like their coun­ter­parts in, es­pe­cially, the ma­jor de­vel­oped coun­tries – they have to fend for them­selves. That’s why they must make use of the means at their dis­posal, such as suit­able in­sur­ance, to pro­tect their cap­i­tal ef­fi­ciently.”

San­tam Agri­cul­ture, with a mar­ket pen­e­tra­tion of more than 50%, is by far SA’s mar­ket leader in terms of crop in­sur­ance. “San­tam has had 91 years’ ex­pe­ri­ence of in­sur­ance and its spe­cial­ist knowl­edge of crop in­sur­ance also en­ables it to lead the mar­ket to ap­pro­pri­ate new prod­ucts and ser­vices in the field of crop pro­tec­tion,” Doyer says.

San­tam of­fers flex­i­ble and trans­par­ent op­tions

“San­tam Agri­cul­ture is now the only short-term in­surer in SA with an ex­per­i­men­tal farm where tests are con­ducted on a va­ri­ety of crops to de­ter­mine the cor­rect un­der­writ­ing meth­ods and re­lated as­pects. This makes it eas­ier for pro­duc­ers to choose the right in­sur­ance for their unique needs.”

San­tam Agri­cul­ture ex­panded the scope of its farm­ing busi­ness con­sid­er­ably two years ago when it took over the es­tab­lished crop in­sur­ance busi­ness of ARS.

ARS was formed in 2000, when the well­known Sen­traoes (for decades a house­hold name among SA farm­ers) merged with CUAS.

“Our client-driven ap­proach to short-term in­sur­ance – in­clud­ing new risk man­age­ment ini­tia­tives and an im­proved claims ser­vice – en­sures flex­i­ble and trans­par­ent op­tions for pro­duc­ers. San­tam Agri­cul­ture’s team of ex­perts and prod­ucts are set up in such a way al­most all the mod­ern farmer’s needs – even such things as li­a­bil­ity cover in labour dis­putes – can be ac­com­mo­dated.”

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