Allianz and Sarmap develop new crop insurance technology
Allianz Re’s agriculture team is developing a new approach to crop insurance in cooperation with software company, Sarmap, which specialises in technology used for managing natural resources.
The two are working on radar-based remote sensing software that can allow biomass growth to be monitored and the potential yield of agricultural areas to be measured.
Compared to remote sensing technology, which is based on purely optical sensors, the radar technology can convert satellite images into data of superior value, irrespective of weather conditions and the time of day.
In 2013, the European Space Agency plans to make satellite images available on the Internet free of charge, and according to Allianz Re’s head of agriculture, Thomas Heintz, the new technology will enable the insurer to estimate a field’s potential yield on a weekly basis.
In addition, the software can be used to determine in detail the cause and impact of damage, in the event of loss.
Mr Heintz comments: “This closes data gaps that have made agricultural insurance difficult, and sometimes even impossible, in many areas in the past.”
Category: Allianz News, Business Insurance News, Insurance News
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