Leading Crop Insurance Company Signs Multi-Year Subscription Agreement for ClearAg to Improve Crop Management Tools

SANTA ANA, Calif.--(BUSINESS WIRE)--Jan. 5, 2017-- Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced that QBE NAU Crop Insurance has signed a multi-year subscription agreement for Iteris’ ClearAg weather, wind and soil data plus visualization component technology to improve crop reporting and reduce crop loss.

“We‘re always looking to help our agents be industry leaders in technology and thanks to ClearAg our agents have a new set of tools to offer their farmers,” said Michael Deal, chief marketing & technology officer at QBE NAU. “We chose ClearAg because they can deliver science-based agronomic insight tools that draw on a vast store of weather, wind and soil data combined with cutting-edge visualizations. ClearAg tools will help our agents and their farmers more quickly understand crop health conditions to reduce loss risk and be more productive in their fields.”

QBE NAU is the third largest approved insurance provider (AIP) in the U.S. with more than 3,000 agents who serve more than 80,000 farmers. QBE NAU will use ClearAg environmental data and agronomic visualization technology to provide critical field-level insights so that their agents and farmer customers can proactively mitigate risk and prevent crop loss.

“Accurately predicting near-term weather and soil conditions is a scientifically proven approach to reducing crop loss,” said Tom Blair, senior vice president at Iteris. “As a forward-thinking AIP, QBE NAU is making a strategic investment in environmental data analytics that will help the thousands of agents and tens of thousands of farmers they serve make better-informed decisions for crop health. Putting science-based agronomic insights into the hands of the agents and farmers highlights QBE NAU’s leadership as an AIP pioneer.”

ClearAg is a leading digital agriculture platform that delivers weather, water, soil and crop health data and advisory services to growers, researchers and other agribusinesses who need accurate, location-based information available on a worldwide basis. Iteris is the only weather information and data science company to apply Land Surface Modeling (LSM) technology to agronomic problems.

About QBE NAU Crop Insurance

QBE NAU Crop Insurance is a leading Multi-Peril Crop Insurance company passionate about serving the American Farmer and supporting their agents in the continental United States. Headquartered in Ramsey, MN with Branch Offices in 10 locations, QBE NAU has grown over the years by providing outstanding customer service and leading-edge technology. As a division of QBE Insurance Group Ltd., one of the top 20 insurers worldwide, they have the financial strength for today’s insurance environment. Learn more at naucountry.com.

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit www.iteris.com for more information.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the anticipated benefits and success of our agreement and future success in utilizing the ClearAg solution. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ClearAg solution’s ability to provide critical field-level insights and to improve crop reporting and reduce crop loss; our ClearAg solution’s ability to help users make better informed decisions for crop health; the future adoption of the ClearAg solution in the agribusiness markets; customer’s dedication of resources and ability to achieve market acceptance for its own products and services; our ability to gain additional patent protection for our technologies and products; and the potential impact of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005590/en/

Source: Iteris, Inc.

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