Tuesday , January 31 2023

Algorithms and Big Data Provide Climate Risk Insurance – Radio 102.9



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l Depending on the start of the new campaign, the producer will face two major variables: climate and markets.

You can choose to predict sales for an estimated estimate (forward), or use futures and options on the market. But in terms of climate, it only provides scalp insurance: before the drought and flood, the manufacturer will not always close.

The decades-long vortex policy is the only reason for a rising and complicated climate risk management.

Service

S4 has offices in Argentine technology companies, agriculture, Argentina, Brazil, and the United States. Satellite technology provided by NASA and the European Space Agency has been developed to enable accurate display of climate impacts. "Today the market has reacted and has seen innovation in this field. Satellite databases, as well as cloud-based data processes, have led to the development of a global-scale risk index. This index is reflected on the Roexeks market and can be used by risk holders, such as Munich RI, to provide farmers, "says S4 founder Santiago Gonzalez Venzano.

Risk Recipient

The indices are based on satellite imagery around the planet and have a history dating back to 2000. Algorithms that recognize agricultural crops can be developed by mechanical engineering: each plant is its "spectral signature" as "barcode". Apart from the knowledge of which crops (soybean, corn, wheat, etc.), another algorithm allows us to know how to "receive pulse" and how it grows: what is the stage of development and what its strength. Thus, indices that show the growth of each crop in every village will be created. Then, in each settlement, the mathematical model of risk was developed, knowing the history of the index.

This risk index lags behind the set value, allowing the farmer to pay compensation for a "risk-taking person".

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