Objectives of the Product

Crop insurance faces several challenges that can affect its effectiveness and sustainability. One significant issue is the inefficiency and high costs associated with loss adjusters. The process of assessing crop damage often relies on manual inspections, which can be time-consuming, inconsistent, and prone to human error.

Saturnalia leverages cutting-edge satellite technology to provide daily monitoring and analysis of agricultural crops. Our service offers near real-time insights into crop health, growth patterns, potential issues and damage assessment, enabling growers and crop insurance companies to make informed decisions swiftly and accurately.

Insurance companies benefit from our technology to better estimate risks, manage claims, reduce fraud, and assess damage from natural disasters. The potential for transformation in these traditionally conservative industries is immense. The Saturnalia monitoring service is a tool for insurance companies to quickly assess the extension of damage and support the loss adjusters’ activity in the field.

Customers and their Needs

Insurance companies need to support experts in correctly assessing damage caused by natural events (hail, frost and excess of water). They also need prompt access to weather data for damage assessment. Moreover, they need to measure risk associated with every single parcel crop.

Targeted customer/users countries

Our targets are crop insurance companies operating in Europe, especially in Italy.

Product description

Saturnalia aims to become a reference to help loss adjusters in the field. Our plan is to use satellite imagery to support crop insurance activities. Automatic damage assessment is not available on the market as it requires data, know-how and continuous interaction with end-users to be built. Loss adjusters are going to use the Saturnalia app to collect data in the field, providing a constant feedback flow.

Added Value

We stand out as we have built, together with the leaders in the agriculture insurance market, a full suite of tools to fill the data gap in the crop insurance value chain: from daily satellite monitoring up to an app for data collection in the field, we are covering every aspect of the value chain. Our main added value is the strong connection with the end users and fast response given the feedback from them. Data from satellites enable an objective measurement of anomalies, leaving loss adjusters to focus on the other operations, improving throughput and accuracy.

Current Status

The project is running at maximum capacity. Interaction with insurance companies and brokers has been very intensive. Several needs have been identified and analysed in order to understand the feasibility and impact. Saturnalia was present at the AIAG event, a bi-annual congress of global crop insurers and re-insurers held in Rotterdam. On the technical side, we are completing the first iteration of the excess of water model.