Industry Showcase: Insurance Companies

Digitalization increases clarity for insurance companies

Globally, there are different ways crop insurance premiums are calculated. Nearly all of them use historical data on yield and revenue for the covered area. Pixofarm stores said historical season data down to crop volume and weather data for past season, but it goes further than that.

Industry Showcase: Insurance Companies

Easier documentation of Good Agricultural Practices (G.A.P. )

By taking pictures of their fruit bearing trees and sizing fruits in regular intervals throughout every season, Pixofarm users are documenting Good Agricultural Practices (G.A.P.) while at the same time generating yield estimates for their plots. This allows for insurance companies to remotely monitor selected parameters or data points from their clients as well as contrasting an eventual loss of yield to the expected season outcome in an objective way. Simply put, for damage assessment, the insurance company can compare the state of a plot after damage occurred to a former state of the block – be that in the same or a comparable past season.

Industry Showcase: Insurance Companies

Increased precision supports the fruit producer & insurance company

Since premiums, risk, and eventual yield loss can be computed more precisely, openly, and in some circumstances even dynamically, this gain in precision benefits both the insurance business and the insured farmer.

This represents a win-win situation for both parties since the harm may be described more correctly and both parties get a better and clearer perspective of the damage.

Get more Information about pricing

Chose the right target markets from now on.