Presentation – Harvesting Resilience: Unleashing the Potential of Cutting-Edge Technology and Data-Driven Insights in Agricultural Insurance
Vision: Insurance as a tool for shaping resilience, not just mitigating risks.
1) Unleashing Predictive Insights: Optimizing Reinsurance Portfolio Performance:
- Utilization of historical weather and vegetation data for precise risk assessment.
- Creation of detailed risk maps for accurate premium and coverage definition.
- Establishment of unique portfolios based on risk profiles.
- Streamlined underwriting and claims management processes.
- Key Insights:
- Productivity Risk Score Map
- Vegetation vigor comparison to average
- Soil moisture comparison to average
- Snow depth in relation to winter kill risk
- Crop Identification and Planting Validation
2) Leveraging Data-Driven Index Models for Tailored Risk Solutions:
- Utilization of third-party data for developing index-based models.
- Analysis of current and historical crop and weather data.
- Tailoring products to meet evolving client needs.
- Value demonstration through localized simulations.
- Key Index Models:
- Pasture Index
- Precipitation Index for Harvest
- NDVI Index Crop Specific
- Emergence index (Reseeding)
Conclusion:
- Future vision: Insurance as opportunity embracement, not just risk management.
- Call to action for innovation, collaboration, and resilience building.
- Acknowledgment of the transformative power of data and technology in insurance.
