„InsSAT – Satellites in Insurance” is the official name of our project which is supported by ESA and being executed in cooperation with the Remote Sensing Centre of Institute of Geodesy and Cartography. Official commence of the project took place during the Kick-off meeting on 12 June 2019 in European Space Association HQ in Harwell. By the 2021 we are going to deliver to insurance companies our remote sensing products, that will be available through dedicated system for sales, claims settlement and risk assessment.
InsSAT is a response to the growing demand of insurance companies for the use of remote sensing data in agricultural insurance. In order not to burden them with the costs of conducting research on remote sensing products and system construction, we have written a research application and invited them to cooperate in creating solutions enabling the best adaptation to the needs of the insurance industry and understand the pros and cons of possible solutions.
Value of crop insurance premiums in Poland is still growing.
Within the project we run workshops, during which we discuss the possibilities of using different types of data and adjusting it to the needs of the insurance industry. As a feedback we receive information about usability of proposed data format and possible ways of enriching it or changing the desired format.
Products that we develop are related to insurance sales and claims settlement in the range of:
- bad wintering of the crops;
- setting the date for the crop harvesting;
- spring frosts;
- agricultural properties insurance;
- automation of field inspection process.
Our producs are created as a result of combining remote sensing data with AI algorithms. We conduct research that within a few growing seasons will allow for adjusting machine learning models to all possible weather conditions. Every developed models are verified on the field, so that we can be sure we deliver products of the highest accuracy.
Sale process of the winter crops insurance has finished lately. Stay tuned for more posts describing solutions we create in relation to that subject.
To find more information about the project CLICK HERE.