Biometric identification of insured and financed animals
Biometric Identification - Digital Tagging
Tanveer Ahmed
Biometric Id, Digital Tagging, Facial Recognition, Artificial Intelligence
B2B Agro Livestock Surveyors always strives to continuously improve its systems and procedures in accordance with international best practices and invest in processes, new technologies and people to enhance customer satisfaction. In line with the vision of the company, we are glad to share the initiative of biometric identification of insured and financed dairy animals based on muzzle patterns. B2B Agro Livestock Surveyors has already signed an MOU with an internationally renowned technology giant for this purpose. B2B Agro Livestock Surveyors has also updated its web-based application and database to meet with the new technology solutions, the company has a digital record of about 295,000 inspected and tagged dairy animals (cow, buffalo & bull). Similar to human biometrics such as faces and fingerprints, animals also have biometrics for individual identifiers. Traditional cattle identification methods such as ear tagging with Poly Urethane tags and leg tags have their own set of drawbacks. The primary drawbacks of these ear tags are that they are not cost-effective, require specialized skills to apply and have a limited time span. Likewise, they also get damaged or fade over a period and are also prone to tampering or duplication. The lack of a tamper-proof, scalable, unique digital identity of cattle is one of the reasons for moral hazard, resulting in a higher loss ratio for insurance companies offering livestock insurance. Cattle muzzle prints are considered as most suitable and practical means to identify and authenticate cattle in a reliable and fast way. B2B Agro Livestock Surveyors solution aims to provide a unique, digital, reliable, easy to use and long-term solution that suits the needs of all the stakeholders (i.e. banks, insurance companies and farmers) by new age technology to establish a unique digital identity of cattle (muzzle identity). The solution helps banks and insurance companies to underwrite cattle swiftly and accurately. One of the biggest issues faced by insurance companies is how to make sure that a cattle claim is for the same animal they have insured? We believe, the market of insuring cattle could significantly be increased with new technology that helps in identifying cattle using images of their muzzle which is as unique as human fingerprints. B2B Agro Livestock Surveyors facilitates seven insurance companies and sixteen banks, B2B Agro Livestock Surveyors aims to provide cover for 50,000 heads of cattle using this technology in the year 2022. B2B Agro Livestock Surveyors’ biometric app is most suitable for insurance companies and banks and it is the best technology solution available in the market