cloudeo

cloudeo is the world’s leading market platform through which customers can obtain professional geoinformation services from leading national and international providers at low cost. Services include dedicated solutions for many industries, such as agriculture, urban and landscape planning, logistics, telecommunications, and water management.

Customers are provided with high resolution imagery, 3D terrain models, thematic maps, and sensor data for a wide range of applications. All of which can be combined with a large selection of software packages, analytics and IT that facilitate the processing of these data. cloudeo makes it easy for partners to enter the market on a local, national or international basis.

Our cloud-based platform empowers new business models while enabling production automation, delivery, and administration. For these reasons it is cost-effective, transparent and reliable.

Geo Insurance: Earth Observation Satellite-based Agricultural Insurance and Monitoring

Geo Insurance is an online, fully automated platform focused on delivering insights to insurance companies for crops. Geo insurance helps estimate risk, portfolio exposure, fraud detection, and claim inspection prioritization, all tailored to the client's needs. The robust system for remote sensing-based crop and damage assessment combined with a deep routing within the agricultural economy is critical in promptly getting access to relevant stakeholders.

In general, agricultural insurance focuses on modeling the risk of crop yield damages due to natural or other disasters such as hail, heavy rain, flooding, extreme temperature, windstorms, droughts, etc. Satellite technology, including remote sensing images and meteorological data, allows receiving near real-time updates of anything that’s occurring in the clients’ fields, providing the ability to monitor any severe weather conditions and properly manage cash flow to pay eventual indemnities, versus waiting to react to situations. Satellite imagery is also able to cover larger areas in less time to provide a complete overview of one’s fields. There are many factors affecting yield and plant growth and many ways to measure them, however, the best information comes from the plants themselves — think of them as tens of thousands of sensors per hectare.

To this end, GEO University, powered by cloudeo, developed a platform that delivers information that helps create a sustainable, transparent, efficient, and scalable agro-insurance market: Geo Insurance. Taking into consideration the current situation in the agro-insurance domain, Geo Insurance focuses on delivering insights and data that assist insurance companies and underwriters in a more efficient evaluation of claims, as well as risk mitigation.

Geo Insurance (https://app.geo-insurance.com/#!/login) focuses on modeling with deep learning the risk of crop yield loss using Earth Observation and meteorological data bundled with blockchain technology to ensure transparency of the whole process from data to client information and reduction of administrative costs and process through automated verification. In this way, insurance companies and underwriters can get the risks and the seasonal forecast, estimate the insured indexes and design precise and localized insurance products by fusing high-quality satellite and meteorological data on the blockchain, minimizing at the same time portfolio over-exposure to certain natural disasters.

Apart from that, Geo Insurance provides a suite of information that insurance companies, cooperatives, and farmers can use to perform informed discussions within their business flows and monitor daily the past and current conditions over a specific area. It calculates climatic variables and statistical descriptors (Temperature, Wind Speed, Rainfall), risks and probabilities (Overheat, Frost, Extreme Rainfall, Floods, Wildfires, Droughts), and insurance-related indices (Consecutive dry/wet days, Ice/Precipitation/Frost/Summer days, Tropical Nights) based on satellite, weather, and other geospatial data. All these data are downscaled to parcel level to provide localized underwriting information.

Provided services

RISK ESTIMATION & PORTFOLIO EXPOSURE

Using satellite data and models bundled with artificial intelligence, geo-insurance produces accurate and localized underwriting information for specific natural disasters that insurance companies insure:

• Overheat
• Frost
• Windstorm

FRAUD DETECTION & CLAIM INSPECTION PRIORITIZATION

When a disaster strikes, claims from farmers start flooding insurance companies. These companies face a big challenge as they need to prioritize the claims by their validity and perform damage assessments for the contracts. Thus, insurance companies must examine hundreds or thousands of contracts (depending on their client base and spatial distribution) within a short period of time after a disaster has taken place.

ONLINE & FULLY AUTOMATED

With a better understanding of the probability of natural disasters, you can adjust your insurance premium prices according to location, crop type, and cultivation periods. These revelations optimize pricing and minimize the specific risks involved. Use it also to estimate your current portfolio risk. We can provide this information according to the client's needs: a.) one-off study, b.) online integration with current company processes, c.)through an online platform. The online versions are constantly updated with new data, and probabilities are updated over the year.