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Boosting Agricultural Insurance based on Earth Observation data

Objective

To objective of the BEACON project is to develop a commercial service package that will enable insurance companies to exploit the untapped market potential of Agricultural Insurance, taking advantage of innovations in Earth Observation, weather intelligence and ICT / blockchain technology. BEACON will enable insurance companies to alleviate the effect of weather uncertainty when estimating risk for Agricultural Insurance products, reduce the number of on-site visits for claim verification, reduce operational and administrative costs for monitoring of insured indexes and contract handling, and design more accurate and personalized contracts. Through an early warning service they will be able to inform their customers (farmers) for potential crop risks related with weather conditions, and advise them to take all the necessary actions to mitigate the impact of weather in their crops. EO data derived by Copernicus Sentinel missions as well as by missions contributing to Copernicus will be used to develop the data products that will act as a complementary source to the information used by insurance companies to design their products and assess natural disasters. Weather intelligence based on data assimilation, numerical weather prediction and ensemble seasonal forecasting will be used to verify the occurrence of a catastrophic weather event and to predict future perils. ICT / blockchain technology will be used for the smart contract service, to provide insurance companies with an automated method for paying out damages to insured parties. The BEACON services will be deployed in the operational environment of more than 10 companies in the insurance sector, openly demonstrating and validating its value proposition and acceptance as a marketable commercial solution. A business model will be developed and validated using the Lean Start-up methodology, and a global roll-out of BEACON will be designed.

Call for proposal

H2020-SPACE-2018-2020

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Sub call

H2020-SPACE-2018

Coordinator

KARAVIAS MESITES ASFALISEON KAI SYMVOULOI ASFALISEON ANONYMI ETAIRIA
Net EU contribution
€ 501 603,13
Address
Evripiodu 12
10559 Athina

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Region
Κεντρικός Τομέας Αθηνών Aττική Αττική
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 214 972,77

Participants (6)

AGRO APPS I.K.E.
Net EU contribution
€ 378 437,50
Address
34 Koritsas Str.
551 33 Thessaloniki

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Θεσσαλονίκη Κεντρική Μακεδονία Βόρεια Ελλάδα
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 162 187,50
UNIVERSIDAD POLITECNICA DE MADRID
Net EU contribution
€ 180 000,00
Address
Calle Ramiro De Maeztu 7 Edificio Rectorado
28040 Madrid

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Region
Comunidad de Madrid Comunidad de Madrid Madrid
Activity type
Higher or Secondary Education Establishments
Non-EU contribution
€ 0,00
ETHERISC GMBH
Net EU contribution
€ 158 375,00
Address
Zeller Weg 35a
82057 Icking

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Bayern Oberbayern Bad Tölz-Wolfratshausen
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 67 875,00
FACULTY OF CIVIL ENGINEERING
Net EU contribution
€ 110 750,00
Address
Bulevar Kralja Aleksandra 73
11000 Belgrade

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Region
Србија - север Београдски регион Београдска област
Activity type
Higher or Secondary Education Establishments
Non-EU contribution
€ 0,00
INOSENS DOO NOVI SAD
Net EU contribution
€ 170 625,00
Address
Sonje Marinkovic 18/1/3
21000 Novi Sad

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Србија - север Регион Војводине Јужнобачка област
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 73 125,00
ETAM ANONYMH ETAIREIA SYMBOYLEYTIKON KAI MELETHTIKON YPIRESION
Net EU contribution
€ 233 625,00
Address
Odos G Papandreou 5
71306 Irakleio

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Ηράκλειο Κρήτη Νησιά Αιγαίου
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Non-EU contribution
€ 100 125,00