Dvara e-Dairy partners with IFFCO Tokio to develop AI-led digital identity for cattle insurance
The company's 'Surabhi e-Tag' is AI-powered digital tag that identifies cattle-based on muzzle identity. The solution will be launched in pilot mode with IFFCO Tokio.
Dvara e-Dairy Solutions Pvt. Ltd. on Tuesday announced its partnership with IFFCO Tokio General Insurance for providing artificial intelligence (AI) powered digital cattle identity solution for cattle insurance.
The company's 'Surabhi e-Tag' is an AI-powered digital tag that identifies cattle based on muzzle identity.
"We are excited to launch a pilot with IFFCO Tokio General Insurance," Dvara e-Dairy Solutions Founder and CEO Ravi K A said in a statement.
Lack of tamper-proof, scalable, unique digital identity of cattle is one of the key reasons for moral hazard, resulting in a higher loss ratio for cattle insurers, he said.
"Using advanced AI and ML (machine learning) technologies, the critical challenge of improving the quality of images at the time of image capturing is mitigated," he added.
IFFCO Tokio General Insurance Executive Vice President (underwriting) Subrata Mondal said the company was exploring a reliable cattle identity process that can be stored digitally and can be accessed anytime. "We are happy to partner with Dvara E-Diary to launch Surabhi e-Tag that accurately captures muzzle images," he added.
According to Dvara e-Dairy, conventional methods like polyurethane ear tags (PU ear tags) can be easily tampered with and are prone to duplication and fraud. Also, Injectable Radio Frequency Identification (RFID) tags are expensive and require specialized skills.
On the other hand, muzzle printing or nose printing is a unique identifier because it perceives patchy traits on the muzzle of cattle, just like human fingerprints. According to the grooves, valleys, and beads structures, cattle muzzle prints have discriminative features, making them unique.
Surabhi e-Tag captures these features and stores them in a secure, tamper-proof environment and can significantly improve the penetration of cattle insurance, it said.
Dvara E-Dairy has conducted pilot projects with IFFCO-Tokio, based on encouraging results prompting it to commercially launch Surabhi e-Tag in helping farmers expand their cattle stock and increase their revenues through formal financial enablement and insurance.
Edited by Megha Reddy