Cape Town-based AgriTech startup, swiftVEE an agri-platform addressing water scarcity, food security, and market efficiency for the livestock sector has joined forces with South African non-life insurer Old Mutual Insure to launch an industry-first digital solution for the South African livestock buyer and auction market. Titled VeeSure, the digital insurance product is for buyers of livestock and is reportedly a first for the local agricultural sector.
New technology and the use of data are impacting every industry, and agriculture is no exception. Consumers are continuously discovering more productive and cost-effective methods to perform the same task, and they now no longer expect only the experience they were offered before but also developed much higher expectations.
Russel Luck, CEO of swiftVEE comments on the launch of the new digital insurance product.
“It’s been a long time coming, but we’re extremely proud to announce the launch of VeeSure which we believe to be the first digital online livestock insurance in the world. The traditional customer journey is no longer effective in the digital age. As customers increasingly transact online, they need insurance solutions that match the speed and convenience of the primary online transaction (the online purchase).”
VeeSure
The entire process is paperless ensuring an easy to use and seamless digital insurance experience, all on one platform.
VeeSure ensures that users can now obtain insurance in record time. Online buyers using the SwiftVEE platform will at the time of purchase be able to insure their stud or commercial animals in transit on route to their farm via VeeSure’s single transit cover. In addition, VeeSure also offers farmers 12-month pedigreed animal cover, which include transit cover for registered stud cattle, sheep or goats purchased online via the swiftVEE App.
“We’ve seen huge growth in online auctions and this trend has spiked further even after COVID restrictions have ended”. It’s clear that online livestock auctions are here to stay and we’re proud to partner with Old Mutual Insure, to offer the industry further digital innovations,” concludes Luck.
