One of the main advantages of our PiMapping® data is that it can be produced for large areas at once, up to entire continents. This can be done without losing spatial detail for every 250m pixel on the surface of the earth. Or at a higher resolution if necessary. The data can be provided for up to 20 years in the past, providing insurers with an impartial time series to supports risk assessment. Weather based insurance services rely on available meteorological data to settle claims. Often insurers have to rely on datasets that do not have enough spatial detail, especially in areas where weather stations are sparse or non-existent. With our PiMapping® weather data, payout thresholds can be set and monitored with much higher spatial accuracy. This makes settling claims simpler and more circumstantial.
PiMapping® data can also improve index based insurances. Currently a vegetation index, such as NDVI, is often used as a direct underlying for insurance. However NDVI merely relates to the general health status of the plant, whereas eLEAF’s biomass production data provides quantitative crop growth in actual kg/ha. A biomass based insurance that pays out when the accumulated biomass production drops below a certain threshold is more accurate and easier to monitor.
A central aspect in crop insurances is the assessment of actual crop damage. Farmers might claim more damage than they have suffered or report damage caused by an uninsured hazard. This is extremely difficult to verify especially after the event. Our PiMapping® technology can produce actual biomass production before and after an event, even after the damage has been done. Also the timing of crop damage can be determined. This kind of analysis can support claim settlement, improving the accuracy of payouts.