Crop Insurance Services Leverage Digital Solutions to Assess Crop Risk

Crop insurance industries leverage AI-based solutions like remote imaging and satellites to assess policies and claims.

FREMONT, CA: Agriculturalists face unpredictable weather conditions. Insurance services collaborate with farmers and agricultural technology to streamline crop damage assessments. Data from agricultural technologies aid insurance companies in effective and accurate underwriting, fund designation, and claims assessments.

Insurance firms observe better risk management as data transfers between company databases and technology provide agents with real-time and accurate information.

Imaging: Remote imaging technology like geospatial and satellite imaging provides agents access to information before reaching the site. Insurance companies leverage imaging technology to combine satellite imaging with high-resolution aerial imagery and artificial intelligence (AI).

High resolution: Agents can detect weather conditions and crop damage more accurately with high-resolution imaging techniques. It is easier to quantify the risk to potential locations and crop types concerning an impending weather event. Collaborating with farmers can save time by eliminating manual damage assessment. 

Quantifying damage: Insurers can reduce assessment costs and build stronger relationships with their customers by quickly quantifying the damage. Imaging, combined with artificial intelligence, can help pinpoint and quantify crop damage within days of a damage event down to the level of the plant. Advanced thermal imaging from plane-based sensors allows growers to detect yield impacts such as water stress 2 to 3 weeks before they are visible.

Satellite: Field teams can manage their time and visits more effectively by quickly assessing the size and impact of a claim. There may be situations after a large hail event when there are more claims than field team members. Remote imaging becomes essential to determine where field personnel should go. The mobile-optimized map allows field workers to view their entire portfolio in detail and filter by crop type, customer relationship length, and damage impact size. GPS connectivity allows field workers to navigate to fields more efficiently while out in the field. Many imaging platforms assess damage events quickly depending on the crop and event types. Insurers sometimes need immediate access to data after a damage event, which satellites cannot provide. It is sometimes necessary to wait for satellites with shorter revisit times due to inconsistent weather and field conditions, such as clouds and soil saturation. Using both satellite and aerial imagery together can make in-person visits more effective. If satellite imagery detects a sharp change in crop health, it can trigger a 24-hour aerial flight.