Parametric Insurance for Wildfires
Objectives: Provide forest owners with simple and responsive insurance solutions by using satellite data to estimate damages, avoiding the need for on-site inspections.
We are developing simplified insurance solutions known as “parametric insurance.”
Unlike traditional insurance, parametric insurance relies on satellite data to automatically measure the area of forest burned. Once a predefined threshold is reached, compensation is triggered without the need for on-site assessment.
Applications:
- Provide faster and automated compensation for forest owners.
- Simplify claims management for insurers through a more streamlined and cost-effective system