Drought Index Insurance using satellites: Now mature and growing fast in 2020
July 21, 2020
ood security remains of key importance, especially in these tough times. Drought Index insurance based on satellite observations is a component that can assist in improving this.
Drought index insurance had already a rapid uptake in 2019. For the Northern Hemisphere the growing season is about to start in April 2020, creating an opportunity for brokers, as well as insurance and reinsurance firms, to offer this new insurance service to their clients. Index insurance has a number of significant benefits compared to traditional agricultural insurance: