HARNESSING THE POWER OF TECHNOLOGY
Advancements in agricultural technologies in the areas of satellites, drones, sensors, robotics, biotech and artificial intelligence are reshaping farming techniques and offering access to previously unavailable risk data.
We access and utilise the most relevant features of these technologies to analyse and create innovative approaches to manage and protect agricultural operations. Satellites provide near real-time weather data, high resolution crop images that can accurately read crop health, soil temperature, humidity and other essential aspects. GPS sensors can allow effective tracking of animals and monitoring of livestock health. The information produced by satellites offers a wealth of data which can be used for better management of risks and for creating tailored insurance protections.
Using the power of modern technology, combined with over a decade of experience of working with farmers, we create customised risk management strategies to help businesses protect the most vulnerable areas of their farming operations.
21ST CENTURY AGRICULTURE
Our use of satellite technology permits the mapping of any farm location in the world and identify critical elements which can impact growth performance.
High resolution images relayed by satellites can filter surface and soil conditions and characteristics which are invisible to the naked eye.
We conduct detailed analysis of soil moisture conditions, natural fuel loads, wildfire and storm activity, changes in biomass and track and monitor weather conditions.
Data extracted and analysed can be used to manage and reduce environmental risks, as well as providing important parameters used in the design of insurance protections.
CANOPY is the Ceres Insurance Group’s proprietary risk management platform that analyses climate related risks.
It provides a range of easy-to-use risk assessment tools relating to:
- Temperature fluctuations
- Rainfall patterns
- Soil moisture levels
- Crop conditions
- Pest and disease threats
- Storm activity
CANOPY can also act as a customer database for insurance and risk information. Our secured and cloud-based platform offers customers access to risk and insurance information, for any location in the world.
Contact us for a demonstration of CANOPY.
PARAMETRIC COVERAGE SOLUTIONS
Weather perils have been the biggest cause of loss to the agriculture industry. Australia and many countries in Asia are located in one of the most volatile regions of the world, with seasonal typhoons and cyclones, and increasing trends in the number of floods, droughts, hailstorms, wildfires and extreme temperature fluctuations.
Equipped with our leading edge technology we are able to identify specific risk exposures to weather perils for any sites located in Australia and Asia. Our data and analysis is used to access a wide range of weather-index insurance products (parametric insurance) which are ideally suited to agriculture.
Parametric insurance provides protection against losses that are often too hard, too expensive or impossible to insure. The covers offered are innovative in their design, transparency, efficiency (claims are typically settled within 2-4 weeks) and the certainty they bring to companies that seek to remove production and revenue volatility.
Contact us to understand more about parametric insurance and how it can assist you.