Challenge Group took part in an agri-tech mission to Colombia in early March
An agro-technological mission presented a great networking opportunity, where foreign companies could exchange technological successes and study the promising agricultural market of Colombia.
A number of prominent British companies associated with the agribusiness sector joined the Mission and visited Colombia. During the week, more than 150 meetings were held with representatives from over 100 Colombian organisations.
The delegates of British companies got acquainted with the peculiarities of Colombia's agricultural business, visited production facilities, including tilapia farms and coffee plantations.
As part of the Mission, Challenge Group presented the opportunities and relevant insurance solutions for the agro-industrial industry - a growing and promising industry in Colombia. Currently, the local market of agricultural insurance solutions is extremely small: less than 5% of the agro-industrial business is insured, despite the government programs and subsidies.
Having extensive experience in developing insurance products and individual solutions for the agricultural sector, we consider this an excellent opportunity for further cooperation. The meetings and negotiations indicated the willingness of Colombian producers to consider insurance as a protection tool for agricultural equipment, livestock and crops.
In recent years, the level of economic development of Colombia has changed significantly, which opens up vast opportunities for the development of international partnerships.
Challenge Group supports the initiative to exchange experience and knowledge. We have been offering unique solutions to the developing agricultural markets of Southeast Asia and Russia for over 12 years and we are happy to extend our expertise to the Latin American region in order to facilitate development of the agricultural sector in Columbia.
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At Challenge Group we believe in the power of global collaboration and we are always looking for opportunities to facilitate the international exchange of knowledge.