In the context of the EUH4D project, Amigo, an Italian SME providing climate services such as climate analysis, risk assessment, and design of climate indices., cooperates with ahedd, CINECA, and ITI DIHs in order to conduct ClimateByte, an application experiment that targets the needs of insurance companies providing agricultural coverage.
The sector of insurance companies providing agricultural coverage is familiar with climate data. However, a gap remains between the wealth of available data and the actual use during the day-by-day operations in the industry. One of the main reasons for this is the lack of high-resolution data (e.g. MARCO D.6), such that the insurance policy is specifically tailored to the single agriculture plot (1 km2 or less). This is needed to carry out a dedicated risk assessment for the design of the insurance policy, incorporating vulnerability and climatological data at high-spatial resolution.
ClimateByte improves the process of pricing and managing insurance products by collecting in a single place a complete set of climate-related information necessary for the risk profiling. ClimateByte will use big data and ML approaches, such as Decision Trees and Convolutional Neural Networks, to reach the spatial resolution required by the insurance industry.
The main innovations of the experiment can be summarized by the following points: (1) the design and implementation of a proprietary set of cutting-edge AI techniques; (2) the advanced Big Data Architecture; (3) a new high-resolution dataset, (4) the three above mentioned innovations will be integrated in an existing platform, and (5) the opportunity of testing the solution on the business case of forage together with insurance companies.
ClimateByte will be the only SaaS in the market that automatically assesses climate risk over different time horizons with a resolution suitable for agriculture risk analysis.
In this experiment, ahedd provides the Visualization service to produce a map for the high resolution data that are being generated.
ahedd can analyse business needs across sectors and address them by designing advanced and complex digital solutions.