Agriculture is a risky business. It has the potential of generating huge returns after a very short time, as long as no major problems occur. That’s why farmers take up insurance to safeguard their investments in increasing numbers. In developing countries this actually helps fighting poverty, as farmers are now able to recover in case of a catastrophe. With our versatile remote sensing services, you’ll turn risk into profit – for all parties involved.
Remote sensing helps agricultural insurance in two major ways. The first are index-based insurances. These offer a low-cost solution for setting up and controlling insurance schemes. Here, payouts are based on a regional index that is correlated with the farmers’ losses. Should the index exceed a set threshold, then all the farmers in the region receive a predetermined payout.
On the other hand, remote sensing can also help you develop and analyze risk profiles for certain areas. By combining satellite images with weather data, time series and other data, VITO Remote Sensing provides:
- Crop monitoring and damage assessment
- Satellite damage maps to indicate high-risk areas
- Field-visit preparation and support
- Historical loss assessment
- Risk maps for premium calculation
