Reinsurance News

Ceres Imaging releases AI data analytics suite for agri re/insurers

13th March 2023 - Author: Matt Sheehan

Ceres Imaging, a data analytics company that builds AI-driven solutions to protect yields and advance climate resiliency, has released its Risk Solutions product suite, designed to power risk models for agriculture re/insurers and lenders.

The new product aims to streamline underwriting and improve claims responsiveness, using Ceres data models that analyse 11 billion individual plant-level measurements and more than 40 crop types.

It will now be available globally to agricultural lenders, insurers and reinsurers, after two years of stealth product development and successful early commercial partnerships with agriculture insurance providers (AIPs) and major agriculture lenders.

Specific features within the product suite include portfolio management solutions that rank and visualize risk exposure —such as emergence risk, crop type risk, or harvest risk.

It also promises automated measurements key farm characteristics, localized data to forecast potential payouts in season, peril-specific damage assessment reports and insights on portfolio performance down to the individual plant level.

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“While the increasingly visible effects of climate change do pose daunting obstacles to lenders and carriers operating in the agricultural space, our data provides efficiency savings at every stage of the business cycle: from product innovation and policy writing to crop monitoring and regulatory compliance,” said Ramsey Masri, CEO at Ceres Imaging.

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