Agricultural Insurance companies face high operational and administrative costs for claim verification and monitoring, damage/loss, and control of fraud events, driven by the remoteness and dispersion of agricultural production/crop fields. The occurring indirect costs increase the company operational cost resulting to higher premiums in the market. BEACON using Earth Observation imagery offers an alternative possibility to verify and more accurately assess whether a claimant has been affected by an insured risk, enabling also the investigation of suspicious claims. This possibility emerges from the well-established potential of remote sensing to detect damage on vegetation and crops by drought, fire, hail, frost and pests and diseases. BEACON Earth Observation functions empower Agricultural Insurance underwriting procedures and premium calculations, by providing access to, and analyzing Earth Observation, climate and localized meteorological data. Using satellite-based information, coupled with weather intelligence and high-resolution weather forecast it will enable a more accurate damage assessment and claims adjustment along with a potential fraud detection.