OEMC project use case: Meteo-based agricultural insurance tool

Description

High resolution (1 km) daily climate element (max., min., mean temperature, sea level pressure, total precipitation) maps. This data set can provide Agriculture Insurance actors a concrete base for more accurate underwriting and premium calculation, i.e. for calculation of weather risk probability and potential crop risks related with the prevailing weather conditions (crop loss assessment, crop diseases detection, etc.). It can be included in the "smart contract" procedure, in an automated execution of index-based contractual clauses.

Stakeholder needs: 

• Time series of the daily meteorological data for specific location, eg. farm or parcel.
• To cover the 1990-present period or 1960-present if possible
• To cover Europe or to have global spatial coverage if possible
• Provide high quality data
• Easy to access
• Implement the final solutions for the risks based on the meteorological data

Planned implementation:

• Create a daily gridded meteorological dataset for the entire World with a spatial resolution of 1 km, covering the period from 1961 to 2020. The dataset includes five daily variables: maximum, minimum, and mean temperature, mean sea level pressure, and total precipitation. Spatio-temporal regression Kriging is used for interpolation.
• Develop https://dailymeteo.com/ web portal to provide access to the data
• Develop MeteoAI chatbot to interact with the meteorological data

Visit the use-case page on the OEMC website to learn more: https://earthmonitor.org/use-cases/meteo-based-agricultural-insurance-tool/

Knowledge Resources

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Funding awards