Swiss Re has partnered with VanderSat to develop a range of agricultural insurance products by leveraging the latter's satellite-based technology. Back in January, VanderSat told AgFunderNews that targeting large institutions, organizations, and governments was part of the company’s strategy – a tack that allows VanderSat to focus on its strengths in data gathering, processing, and analysis while leaving the end-user connections to its partners. The company is also working on an innovative crop protection system that uses satellite imagery and data analytics for risk assessment in order to identify areas at high risk. The partnership will see Swiss Re expand into parametric insurance products where payout is not dependent on 100% crop loss. Swiss Re has suggested that they are looking to utilise the technology to bring coverage to uninsured farmers in developing markets.
Swiss Re has partnered with VanderSat to develop a range of agricultural insurance products by leveraging the latter's satellite-based technology. The company is also working on an innovative crop protection system that uses satellite imagery and data analytics for risk assessment in order to identify areas at high risk. The partnership will see Swiss Re expand into parametric insurance products where payout is not dependent on 100% crop loss. Swiss Re has suggested that they are looking to utilise the technology to bring coverage to uninsured farmers in developing markets.