EO data in insurance: innovations in a traditional industry: innovations in a traditional industry

Abstract

There is a noticeable increase in the demand for Earth Observation satellite services, the availability of the necessary space technologies and the widespread access to space data. The intended use of satellite data, in fact, is the most varied and pervades the public as well as the private sector, hence also the insurance sector. A great deal of attention is now being paid to future strategies for limiting catastrophic risks in agriculture through insurance contracts (index-based policies) that are based on the use of images from Earth Observation satellites with a view to prevention and precaution. The spread of such insurance instruments brings various advantages to both the insurer and the customer; nevertheless, there are several issues that require further investigation.