By market share, our customers underwrite more than 45% of insured acres in the USA
PlanetWatchers is committed to providing comprehensive crop monitoring and analysis services to customers exclusively in the crop insurance industry in North America.
The North American crop insurance industry is a critical component of the agriculture sector, providing protection for producers and ensuring the stability of the food supply chain. There has been a 115% increase in the number of billion-dollar climate-driven disasters worldwide over the past decade, having a serious impact on crop yields.
With advances in technology such as agriculture satellite imagery, crop insurance providers can become better equipped to assess risk, accurately price policies, and respond quickly to crop damage events.
At PlanetWatchers, we understand the unique challenges facing crop insurance providers in North America. By partnering with us, crop insurance providers can access a wealth of insights that enable them to ensure the accuracy of premiums, and resolve claims fairly and quickly.
Our remote sensing technology uses a data fusion of synthetic aperture radar (SAR) optical imagery and machine learning algorithms to detect and monitor crop planting, growth, harvest, and identify damage.
Our acreage reporting services are up to 14% more accurate than manual data collection. We provide forecasted acreage reporting pre-season, that allows insurers to enhance the accuracy of sales quotations. Our automated acreage reporting service provides planting dates, planted crop and planted acres as early as May 1st, and our acreage validation service identifies any discrepancies in manually collected acreage reporting. Using these services, crop insurers gain an enhanced view of risk and premiums, and benefit from improved data accuracy in the event of a claim.
Our range of insurance claims services helps crop insurers save 40%-75% of the time spent processing a claim. Our automated wind service identifies the location, scale and severity of wind damage events. When a prevented planting claim occurs, our service provides comprehensive field conditions reports for the planting window and previous years, making the claims adjustment process more efficient. We also have a forensic analysis service for complex and controversial claims. In addition, we continually collaborate with customers to develop innovative services for improved efficiency and value.
If you want to work with us or learn more about how our services can help your crop insurance company, please don’t hesitate to contact us today. We look forward to working with you to create a brighter future for the crop insurance industry in North America.