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Reinforcement in the service portfolio aims to provide even more security and sustainability to the businesses of Brazilian farmers
Lavoro, the first agricultural inputs distributor in Latin America to have shares listed on Nasdaq, the American stock exchange, has just announced a partnership with Allianz Seguros. The insurer offers a broad portfolio of insurance and asset management options, with products and services that meet the needs of more than 85 million customers in over 70 countries.
With the arrival of Allianz, Lavoro continues to expand the portfolio of services available to its more than 74,000 customers. “We have observed a growth in the demand for agricultural insurance, due to several factors, among them, the severe climate changes that harm the productive cycle and force the producer to seek alternatives for protection. Lavoro has been offering this type of service in Brazil since 2023 and now the goal is to expand our reach through a diversified set of solutions and new partners,” explains Ruy Cunha, CEO of Lavoro.
One of the advantages for the insured producer is that they can choose to pay the policy in cash or in installments. One of the advantages for the insured producer is that they can choose to pay for the policy in cash or in installments. The Lavoro client who closes a Barter deal, for example, will be able to pay the insurance amount at the end of the harvest, which is a differential. Besides this, having a partner that, in addition to offering insurance, also delivers solutions in products and agronomic consulting, guarantees the sustainability of the operation for both parties,” highlights Guilherme Rosa, Corporate Marketing and Services Manager at Lavoro.
The commercialization of the insurance is already available at all of the input distributor’s points of sale in Brazil, whether in physical stores or through field service provided by the company’s sales team. The brokerage Agrotech and the insurance platform Agristamp will be responsible for facilitating agricultural insurance negotiations between Lavoro and its customers.
Allianz Quotes
Rural Insurance in Brazil
The National Confederation of Insurers (CNseg) reduced the growth projection for the rural insurance market to 1% this year. The subsidy, distributed by the Federal Government via the Rural Insurance Premium Subsidy Program (PSR), below what the market stipulates as essential, was the main factor that pulled down the product’s growth estimate for this year.
Furthermore, the wildfires that affected countless pastures and crops in Brazil and the extreme weather events contributed to raising the cost of production, placing agriculture, according to the entity’s president, Dyogo Oliveira, in a period of adversity.
About Lavoro
Lavoro is the largest agricultural inputs distributor in Brazil and the first in Latin America to be listed on Nasdaq, the American stock exchange, under the tickers “LVRO” and “LVROW”. With a complete portfolio of products and services, the company empowers farmers to adopt innovative technologies and boost productivity. Founded in 2017, Lavoro has a broad geographic presence, operating in Brazil, Colombia, Uruguay, and Ecuador, serving approximately 74,000 customers through its physical presence in more than 220 stores across Latin America and with a team of more than 1,000 technical sales consultants, and digitally, with its marketplace. Learn more about Lavoro here.
Press Information:
Gisele Gomes Comunica
Gisele Gomes | + 55 11 99103-0946