Patriot Growth Insurance Services has partnered with Momentum Ag, formerly a division of Farmers Business Network (FBN).
Momentum Ag is keen on the agriculture industry, with crop, livestock , and health insurance product offerings.
With more than 50 employees, Momentum Ag works with farmers and ranchers to provide optimised coverage options for the operations, options to which Patriot now has access.
Furthermore, the agency has various crops and livestock expertise and is licensed in all 50 states.
“We are thrilled to join the Patriot family. With the launch of Momentum Ag, we are creating a unique agriculture insurance agency rooted in white-glove service, while delivering a technology-enabled experience for our customers,” said Lucas Strom, president and founding partner of Momentum Ag. “Our collective team has over 500 years of experience in the industry, and we have strong relationships with our AIP and carrier partners to continue growing and supporting our clients across the country. Joining Patriot will expedite our growth goals and offer our customers more products and services than ever.”
“I’m excited to extend a warm welcome to the Momentum Ag team,” added Matt Gardner, chairman and CEO of Patriot. “Momentum Ag’s integration into our rapidly expanding agriculture niche enhances our capacity to deliver superior solutions to our farm clients throughout the United States. Lucas and his team have built an extraordinary agency, and Patriot is eager to support them as they continue on their growth journey.”
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From December 2023, Aon will leverage the data provided by Amini to support the African Development Bank’s (AfDB) Africa Climate Risk Insurance Facility for Adaptation.
The alliance aims to expand the availability of crop insurance in Africa, bolster the resilience of smallholder farmers, and speed the adoption of environmentally friendly practices.
According to the AfDB, Africa is home to 65% of the world’s uncultivated fertile land.
Lack of environmental data has impeded the growth of the agrifood industry, hindered the extension of agricultural crop insurance and prevented regenerative farming practices, Aon explained.
Only 3% of smallholder farmers in sub-Saharan Africa have adequate crop insurance, making them extremely susceptible to harsh weather occurrences, it added.