New AI-enabled risk management framework for farmers and crop insurance providersWinnipeg, MB, May 13, 2026 (GLOBE NEWSWIRE) -- Today, Protein Industries Canada announced a new project designed to improve the insurance process for agents and farmers across the country. Led by Agi3 Ltd, in collaboration with Agi3 Risk Services Ltd and Aon Reinsurance Solutions Canada, the project will result in an AI-enabled hybrid public-private framework that will modernize and optimize agriculture risk management. “As the Government of Canada embraces the transformative power of AI, this project represents a promising innovation for Canadian agriculture,” said the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. “By equipping producers with smarter tools to manage yield and revenue risk, Agi3 and Aon will enable farmers to improve financial returns and productivity. Through this initiative, Protein Industries Canada, one of Canada’s global innovation clusters, will strengthen supply chain resilience, benefiting processors, exporters and Canada’s plant protein sector,” said The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, Government of Canada. The project’s goal is to give farmers more tailored risk management options, help advisors and agents deliver those options more clearly, and support a more resilient and efficient crop insurance environment in the face of climate volatility and fiscal pressure. This increase in efficiency at the farm level will ripple through the food production and agriculture value chain, with the potential to lead to improved ingredient functionality and more made-in-Canada food options on grocery store shelves—strengthening both our domestic food sovereignty and global competitiveness in the food market. “Strengthening Canada’s food production and value-added agriculture sector starts with improving processes and systems at the farm level. With the increased use of AI-enabled systems in place on the farm, Canada is better positioned to strengthen its position as a global food superpower,” Protein Industries Canada CEO Tyler Groeneveld said. “Evolving risk management programs to support farmers improves Canada’s competitiveness and helps build a stronger domestic food supply system.” Building on Agi3’s existing technical foundation, the project will focus on developing and piloting an AI-enabled public-private framework for crop insurance that better connects public Business Risk Management programs with targeted private insurance solutions. The work includes new framework design, in-season risk analytics, product and performance-layer modelling, and decision-support tools intended to improve transparency, efficiency and coordination for farmers, advisors, insurers and governments. “This project is about building the next layer of crop insurance infrastructure in Canada,” said Ray Bouchard, President, Agi3 Ltd. “We see an opportunity to better connect public programs, private insurance capacity and modern field-level analytics in a way that gives farmers more choice and gives governments and insurers better tools for decision-making. Our focus in this project is on the framework and market design needed to support a more coordinated public-private model.” “From the farm and advisor perspective, the need is for better fit, better clarity and better coordination,” said Dr. Lysa Porth, President, Agi3 Risk Services Ltd. “Farmers are managing increasingly complex risks, and they need options that work alongside existing BRM programs in a practical way. This project is important because it is focused not just on analytics, but on how those tools can translate into more understandable and more useful risk management conversations on the ground.” “A stronger public-private framework can help create clearer pathways for private capital to participate in Canadian crop insurance markets,” said Jim McCarney, Managing Director-Reinsurance, Aon Re Canada. “Our role in the project is to help ensure that the analytical outputs and framework design can support reinsurance-ready thinking around capacity, volatility and risk structure as the model evolves.” A total of $11.3 million has been committed to the project, with Protein Industries Canada investing $5.1 million and the partners together committing the remainder. Protein Industries Canada’s artificial intelligence stream is funded as part of the Pan-Canadian Artificial Intelligence Strategy (PCAIS), through which the Government of Canada is investing in efforts to drive the adoption of artificial intelligence across Canada’s economy and society. Protein Industries Canada is one of Canada’s five Global Innovation Clusters. These projects are part of Protein Industries Canada’s broader effort to support domestic innovation and drive forward The Road to $25 Billion — a national vision to grow Canada’s plant-based food, feed and ingredient sector into a $25 billion industry and make Canada the leading provider of plant-based ingredients. This work toward a $25 billion industry builds on the industry’s efforts to Make It Here, a Protein Industries Canada initiative to help bring more value and opportunity to Canada’s crops, food sector and families across the country. -- About Agi3 Ltd Agi3 Ltd. is a Canadian agricultural technology and software company focused on insurance, risk management and AI-enabled digital solutions for agriculture. Through its technology platform, Agi3 develops software, data infrastructure and analytics designed to support more individualized risk assessment, more tailored insurance solutions, and better decision-making across the agricultural value chain.   About Agi3 Risk Services Ltd Agi3 Risk Services Ltd. is Agi3’s Canadian insurance distribution business, providing brokerage, underwriting and related risk services to the agricultural sector. The company works with farmers, agribusinesses, carriers and partners across crop insurance, traditional farm property, and commercial agribusiness insurance, combining sector expertise with data-informed tools and digital workflows to support more tailored risk solutions.   About Aon Re Canada Aon Re Canada is part of Aon’s global reinsurance platform, which advises insurers and reinsurers on risk, capital and reinsurance strategy. Drawing on advanced analytics, catastrophe modelling and market insight, Aon Re Canada helps clients structure risk, access capital and make better business decisions in a changing risk environment. <pre>CONTACT: Miranda Burski
Protein Industries Canada
306-581-1340
miranda@proteinsupercluster.ca
</pre> <img alt="" src='https://ml.globenewswire.com/media/ZWM0Y2FiYzctNzNmOS00MDgxLWI5YmYtM2ExMGJkN2FmMjhkLTEyMTQ1NDItMjAyNi0wNS0xMy1lbg==/tiny/Protein-Industries-Canada.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Partnership formed to modernize and optimize Canada’s crop insurance system

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn