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Visual Crop Insurance

Team Name: Viridis

IDEAS Project Pitch: Develop a new crop insurance product that pays based on the estimated yield calculated from aerial photo of the farm land. Currently the crop insurance is too expensive for most of the developing world's farmers. Alternative products are available that pays based on the rainfall ("parametric" insurance) however rainfall is not the only factor driving the yield. By estimating the yield based on the aerial photo, the crop insurance is applied more in line with the actual yield and aerial photography keeps the process economical.

Sectors: Agriculture & Food, Education & Training, Finance & Entrepreneurship

Project Location: India