Ag Insurance...So What?
This week we're bringing you the final episode in our three-part series on the future of ag insurance.
Our journey started with learning the ins and outs of how the sector currently operates (check out the ag insurance 101 episode here) and then talking to key players about new products and technologies entering the industry (check out Damon Johnson on parametric insurance here).
Today, Sarah is joined by Matthew Pryor to talk through their learnings in a live attempt to develop an investment thesis for ag insurance. They cover:
- Technologies and business models shifting the CAC/LTV equation in ag insurance
- How insurance is likely to change as agriculture faces more and more extreme weather events
- What entrepreneurs disrupting ag insurance need to be excellent at
- Possible areas for venture investment in ag insurance, from new products to enabling infrastructure and digitally-native business models
We hope you enjoy this peek behind the curtain of how we think and work, but if you didn't, or you think we missed or got something wrong, we'd love to hear from you!
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Key takeaways
- For traditional indemnity insurance in ag, CAC is high due to the manual processing of every new policy, but for this same reason LTV is also high. These dynamics could change if what is being insured against (like what damage occurred as the result of the weather) changes...
- Like if companies began insuring based on whether or not specific weather events occurred, rather than the damage they caused. This would be cheaper, easier, and open the door to new products
- The future of ag insurance is going to change, the impact of those changes is far from certain.
