London-based insurance firm Skyline Partners has announced plans to support India’s agricultural industry through its new “technology powered weather insurance”.
The firm’s product, due to launch in 2019, is set to offer “affordable protection” to businesses in India’s agricultural sector, providing farmers with income protection against direct or indirect consequences of weather events.
Company founders Gethin Jones and Laurent Sabatié said: “We founded Skyline Partners to restore trust in financial protection and make it more accessible through technology and innovation. Our vision is to provide commercially viable and affordable insurance to the world’s underserved markets.”
A recently secured investment from OneAdvent will be used to bring Skyline’s product to market.
Jones and Sabatié travelled to India earlier this year to test their product and meet representatives from the country’s tea industry. They returned this month as part of a business delegation led by the Lord Mayor of London, Charles Bowman. Another 10 financial technology companies took part in the trip, which included meetings with senior government and industry leaders in Mumbai, Bangalore and Delhi.
Mr Bowman said: “India is the fourth largest foreign investor in the UK, and ties between our two countries are growing. But there is so much more we can do together, particularly in the area of fintech, where UK expertise perfectly matches the needs of India’s growing digital market.
“I am delighted to hear that my delegation member Skyline Partners has secured this investment. During the course of our visit to India there was lots of interest in their offer, and I look forward to hearing about the company’s future successes as a result of our trip.”
Main image ©Skyline Partners