The BEACON toolbox aims to provide insurance companies with a robust and cost-efficient set of services that will allow them i) to alleviate the effect of weather uncertainty when estimating risk of AgI products; ii) to reduce the number of on-site visits for claim verification; iii) to reduce operational and administrative costs for monitoring of insured indices and contract handling; and iv) to design more accurate and personalized contracts.
Specifically, BEACON scales-up on EO data and Weather Intelligence components, couples them with blockchain, to deliver the required functions for Weather Prediction and Assessment and Smart Contracts and offer the required services:
This work focuses on the Damage Assessment Calculator component. It provides an approach using different types of EO data, implemented in the operational workflow of BEACON that can be used by AgI companies to improve the prediction and crop loss assessment due to drought and hailstorms.
Lekakis, E., Tarquis, A. M., Kotsopoulos, S., Mygdakos, G., Dimitrakos, A., Tsioutsia, I. M., Rivas-Tabares, D., and Simeonidou, P.: Evaluation of Earth Observation Products and Their Potential for Crop Damage and Crop Loss Assessment. The Case of Beacon Project., EGU General Assembly 2021, online, 19–30 Apr 2021, EGU21-10829, https://doi.org/10.5194/egusphere-egu21-10829, 2021.