AXA Climate extends partnership with satellite tv for pc information agency

AXA Climate has prolonged its strategic partnership with information analytics supplier Planet Labs.

The partnership presents satellite tv for pc data-driven insights for the event of parametric insurance coverage merchandise to assist shield farmers towards the consequences of drought.

AXA Climate presents drought insurance coverage providers that estimate crop yield and losses. The parametric insurance coverage product robotically triggers payouts inside a couple of days of the tip of a threat interval, the businesses mentioned. This allows farmers, suppliers, processors and different agricultural stakeholders to shortly obtain compensation.

“With Planet’s unique satellite data, AXA Climate has been able to provide a high-quality index insurance coverage service for farmers and cooperatives,” mentioned Antoine Denoix, CEO of AXA Climate. “We can now act quickly to help farmers and stakeholders combat the major threat of drought to agriculture around the world.”

Planet Labs owns and operates the world’s largest fleet of Earth remark satellites, with about 200 at the moment in orbit. The firm collects a picture of each land-based location on the planet on almost a each day foundation, producing a large information set.

This is mixed with public satellite tv for pc information to repeatedly measure and quantify the altering circumstances on the Earth’s floor, together with soil moisture.

With Planet’s Planetary Variables Soil Water Content information feed, AXA Climate receives a measurement of the quantity of water contained in soil to a depth of about 5 centimeters, Planet mentioned. That data helps AXA Climate decide the danger for drought-related losses.

“These Planetary Variables provide accurate, daily, global measurements,” mentioned Will Marshall, CEO of Planet Labs. “AXA Climate is using our Soil Water Content variable to monitor, and then provide automatic payments if the soil moisture gets below a certain percent for more than a number of days. This offers a powerful service that can support global farmers in critical situations. Abstracting out critical measurables from satellite data enables our customers to reach larger value, enable new applications, and thus more customers to get value from Planet’s data.”

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