SatSure AG is a DeepTech space applications startup that provides spatial decision intelligence to banking and insurance clients around the world. Their proprietary platform SatSure SPARTA uses satellite imagery, IoT and weather data among others, analysed using various Artificial Intelligence algorithms, to generate usable data insights for banking customers to help them better manage their agriculture portfolios and reduce the non-performing assets through efficient loan recoveries, increase their lending and financial inclusion mandate by adding new customers, planning their market expansion as well as bundling insurance products to protect their portfolio from climate change effects. SatSure’s alternate data-based insights help financial institutions create efficient risk policy and underwriting, enabling access to finance for even smallholder farmers, who have traditionally not been part of any institutional lending. And its product suite SatSure SAGE is helping these lenders provide better customer experience for such farmers even in the remotest regions of India, by accelerating the onboarding process, enabling higher range of products and different interest rates to choose from, bundling farm management advisories, and helping build an empathetic approach to customer relationship in the event of defaults caused due to natural or market volatility events. In the last two years, roughly 2 million farmers have received loans based on the use of SatSure’s platform and product, while more than 400,000 farmers have benefited due to the faster insurance claim settlement process.
SatSure’s innovation in helping re-engineer financial sector processes and products for societal good has been recognized by various international platforms and organizations such as the World Economic Forum, World Bank, MIT, and the Asian Development Bank, to name a few.