The partnership aims to advance smart farming innovations in the region and improve the financial resilience of farmers. Credit: Peak3 / DJI / PR Newswire.

Drone manufacturer DJI has teamed up with Singapore-based insurtech Peak3 to extend its Agricultural Drone Insurance programme in Thailand.

This collaboration will offer both drone hull insurance and cost-effective third-party liability insurance on buying agricultural drones.

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The initiative is designed to streamline the customer journey through Peak3’s SaaS technology platform.

Peak3 claims that this alliance with DJI will reduce claims costs by 20%-30% IN comparison with industry benchmarks. Bangkok Insurance is the underwriter for this insurance coverage.

This partnership aims to advance smart farming innovations in the region and improve the financial resilience of farmers.

With the high initial costs associated with agricultural drones, the embedded insurance for accidental damage is a crucial measure to mitigate financial risks and reassure farmers.

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Upon the introduction of its agricultural drones that help farmers to reduce emissions, resource conservation and boost yields for sustainable agriculture, DJI has sold “hundreds of thousands” of drones worldwide, including in Mexico, Indonesia, Brazil, Thailand, the US and Mexico.

In June, ZA Tech was rebranded as Peak3.

Some key moves at Peak3 include the launch of its first multi-country, multi-tenant core modernisation project in Europe and the introduction of an integrated customer data and big data platform to enhance its analytics and AI capabilities.