PILOT : FARM WEATHER INSURANCE ASSESSMENT

The objective of proposed pilot is the provision and assessment on a test area of services for agriculture insurance market, based on the usage of Copernicus satellite data series also integrated with meteorological data, and other ground available data.

Among the needs of the insurances operating in agriculture, one of the most promising in terms of fulfilment with Earth Observation data is the evaluation of risk assessment and damages estimation down to parcel level. For damage assessment, the operational adoption of remotely sensed data based services will allow optimization and tuning of new insurance products based on objective parameters, such as maps and indices, derived from EO data and allowing a strong reduction of ground surveys, with positive impact on insurances costs and reduction of premium to be paid by the farmers.

For the risk assessment phase, the integrated usage of historical meteo series and satellite derived indices, supported by proper modelling, will allow to tune EO based products in support to the risk estimation phase.

Services provided in the pilot will support:

• Risk assessment: service of historical spectral and meteorological analysis in support to risk assessment of crop failures.

• Damage and loss assessment: provision of indexes through the integrated usage of meteorological data and multispectral and multi-temporal information for the identification of site-critical weather situations on a small reference area.

The main KPIs of the pilot are:

• Information correctness: risk assessment success ratio and damage assessment success ratio having an acceptable error rate when tested on historic data that it was not trained on.

• System usage: Number of users of the services, and number of users visiting the website with information about.