Aquila for Insurers
Are you an insurer looking to provide climate risk products to your customers? Learn how Aquila’s ESG data solution can help you
Southeast Asia is one of the most vulnerable regions to climate change while also being one of the least insured regions against climate risks, especially for industries such as Agriculture, Renewable Energy, or Tourism. As such, there is a growing demand for insurance products that cover climate-related risks such as droughts or floods. Offering new climate risk insurance is thus a must for insurers that want to stay relevant and capture this market demand. Yet, the first crucial step for insurers to introduce this new product is to gain access to reliable climate data.
IoT data mining ensures that climate data is accurate so that the claims are triggered only when it should be. risks are well-assessed, and premium rates are properly calculated.
Aquila automates data collection so you will always have access to real-time climate data to track trigger conditions and assess the likelihood of a payout.
Aquila partners with a wide range of sensor developers, allowing us to measure various metrics such as water levels, temperature, soil moisture, and more. This means we can provide the data you need for any new climate risk products that you come up with.
(*) denotes the step that Aquila is involved