Customised climate index insurance services for agriculture

Informazioni relative al progetto

AMIGOclimate

ID dell’accordo di sovvenzione: 854781

DOI

10.3030/854781

Progetto chiuso

Data della firma CE 23 Gennaio 2019

Data di avvio 1 Febbraio 2019

Data di completamento 31 Luglio 2019

Finanziato da

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Costo totale

€ 71 429,00

Contributo UE

€ 50 000,00

Coordinato da

AMIGO SRL
Italy

Periodic Reporting for period 1 - AMIGOclimate (Customised climate index insurance services for agriculture)

Periodo di rendicontazione: 2019-02-01 al 2019-07-31

Sintesi del contesto e degli obiettivi generali del progetto

A crucial problem affecting insurance and reinsurance companies in climate index-based risk transfer schemes is the lack of a trusted, transparent, independent and affordable way to design, compute and monitor the underpinning climate indices. AMIGO - as an innovative SME providing climate solutions to international organizations, insurers and reinsurers, for the management of climate related risk in the agricultural sector - has developed a new generation of methods and tools for climate risk management.
AMIGO CLIMATE integrates into one web platform climate modelling, ground-based and remotely sensed measures of weather variables to provide high level software capabilities for customised climate risk assessment globally, including climate index computation, visualization and reporting. With AMIGO CLIMATE we change radically the use of climate data and climate information in the climate risk management industry, since customers will be able to perform tailored analysis for the index-based insurance industry, getting automatically maps and reports, effectively calculating premiums. Compared to existing solutions AMIGO CLIMATE is more performing and scalable, easier to use, cloud-based, cheaper and it offers over time continuity for monitoring indices, thus assuring economic benefits to customers. AMIGO CLIMATE allows customers to enter a huge variety of data that could be customized according to users’ needs.

Lavoro eseguito dall’inizio del progetto fino alla fine del periodo coperto dalla relazione e principali risultati finora ottenuti

During the project development, following the description of action, 3 main activities has been developed, in order to finalize a business plan for the AMIGO solution.
In particular, the main activities have been focused on:
• Identification of the problem and proposed solution
• Market analysis
• Business model and financial analysis
• Meetings with potential customers

Progressi oltre lo stato dell’arte e potenziale impatto previsto (incluso l’impatto socioeconomico e le implicazioni sociali più ampie del progetto fino ad ora)

During the project period, different commercial activities have been done, the first commercial agreement with international clients has been done and the solution has been presented in specific events.

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