Innovative Parametric Weather Insurance on Satellite Data in Agribusiness

Maria Carannante (), Valeria D’Amato (), Paola Fersini () and Salvatore Forte ()
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Maria Carannante: Università degli Studi di Salerno
Valeria D’Amato: Università degli Studi di Salerno
Paola Fersini: LUISS Guido Carli University
Salvatore Forte: Giustino Fortunato University

A chapter in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2022, pp 127-133 from Springer

Abstract: Abstract Weather Resilience against adverse meteorological events became a big issue in several sectors of the economic system. Innovative tools can complement traditional strategies and speed up recovery. In the insurance industry, the parametric coverages based on the use of the bioclimatic parameters correlated to the client’s loss, represent an interesting and alternative risk solutions. Nevertheless, the risk that the index is measured with spatial distance to production location, i.e. the basis risk, can hinder the market diffusion process. The real time data collected by satellites can mitigate the basis risk and combined with main features of the Agribusiness in the personal parametric weather insurance lead to an adequate risk management.

Keywords: Weather insurance; Parametric insurance; Satellite data (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-99638-3_21

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DOI: 10.1007/978-3-030-99638-3_21

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