Skyline partners with Geosys on agriculture index insurance

Parametric insurance underwriting agency Skyline Partners is to bring an index-based insurance platform to market in partnership with Geosys, a company that harvests data from satellite imagery to help customers better monitor crops and mitigate risks.

The new, data-driven parametric insurance service will combine Geosys's remote sensing data analytics with Skyline’s insurance capabilities.

While index-based insurance has been acknowledged as a need in securing risk for under-protected segments of agriculture, the availability of such policies has been extremely limited. Skyline and Geosys aim to change that with a platform built to help design and distribute the products – including making quotes for farmers.

“Working with Geosys to bring this new offer to market was a key component to its success,” said Gethin Jones and Laurent Sabatié, Skyline Partners co-founders. “Their ability to deliver high-quality data analytics on a global scale empowers the indices. Plus, their clear commitment to ongoing innovation gives us the opportunity to grow together.”

Matthieu Hyrien, VP of business development and marketing at Geosys added: “Finding a partner to work with on index-based insurance solution has been a priority for our business. We knew we had the data analytics to empower a quality offer and Skyline is clearly leader in this space. Skyline is entirely digital, fully automated and data driven. They understand the complexities of an index-based offer and have solutions to bring it to market.”