Pure index products, yield-based products, or anything in between
Hybrid Parametric solutions are a proven concept that allows insurers and reinsurers to offer index products literally without any basis risk. The key to success is to combine satellite data with ground truth data, either collected via the GT app or farm machinery.
Rate policies individually
Instead of agreeing on a certain set of weather parameters for a certain region with your client, simply let the client choose which acreage they want to insure, either on a field level or in aggregates. By using GT UDS, you can then rate these policies as easily and quickly as any weather index.
Eliminate the basis risk
By measuring the actual yield, either through GT yield forecast or ground machinery, the basis risk is eliminated. This can attract new customers who would typically avoid index products.
Prevent future disputes
Of course, a client may not always feel comfortable using pure satellite imagery to settle their individual loss. In this case, simply agree beforehand to send an independent loss adjuster to predefined fields to take samples via the GT app.
Scale up globally
The GT platform is agnostic to crops and works literally in any region of the world
Whether you want to improve the pricing accuracy of a current product or price new products, our indeces provide Agricultural Insurers and Insurance Brokers with the right remote sensing and ground level data. GreenTriangle makes it easy to scale at a low admin cost and low transaction costs.
- Get yield data where offical data availability is low
- Cover all systematic perils and reduce the basis risk
- Reduce number of necessary field visits
- Speed up payout and pay indemnities before the harvest
- Provide traditional indemnity and yield index insurance schemes
Use this data to structure index insurance products or combine it with local data to distribute hybrid insurance products and benefit both from parametric insights and low basis risks
Soil Moisture Index
Agro-climatic indicators
Minimize your basis risk and automate your payouts using the GreenTriangle Soil Moisture Index. The index evaluates drought conditions and excess moisture globally at any time and more reliably compared to rainfall based indices as it is an agro-climatic indicator and accounts for soil type and evapotranspiration.
- Measure drought conditions and excess moisture
- Minimize basis risk
- Automate payouts
- Available globally and published every 10 days
