Description
In parametric climate insurance, the payout is triggered when specific parameters are met (i.e., it rained more than 100 mm in the last 4 hours, or the average depth of the flooding in this area was 1.5 feet), as monitored by a third-party (i.e., a satellite or a weather station).
In parametric climate insurance, the payout is triggered when specific parameters are met (i.e., it rained more than 100 mm in the last 4 hours, or the average depth of the flooding in this area was 1.5 feet), as monitored by a third-party (i.e., a satellite or a weather station).
1. We collect information from different sources and leverage the different attributes of each of these sources.
2. Using this data and machine learning, we characterize with high resolution the urban and economic footprints, as well as exposures to climate perils. We do something similar for agriculture.
3. We use ML algorithms to optimally cluster areas and design a product that explicitly minimizes the cost of basis risk, given local conditions and circumstances. We offer this as a Software as a Service Pricing Platform to our B2B and B2G customers.
