The potential and uptake of remote sensing in insurance: A review

cg.contactJ.Leeuw@cgiar.orgen_US
cg.contributor.centerInternational Center for Agricultural Research in the Dry Areas - ICARDAen_US
cg.contributor.centerInternational Food Policy Research Institute - IFPRIen_US
cg.contributor.centerWorld Agroforestry Center - ICRAFen_US
cg.contributor.centerUniversity of Natural Resources and Life Sciences, Center for Development Research - BOKU - CDRen_US
cg.contributor.centerCornell University - CORNELLen_US
cg.contributor.centerUniversity of Twente - UT Netherlandsen_US
cg.contributor.crpCGIAR Research Program on Dryland Systems - DSen_US
cg.contributor.funderCGIAR System Organization - CGIARen_US
cg.contributor.project-lead-instituteInternational Center for Agricultural Research in the Dry Areas - ICARDAen_US
cg.coverage.countryKEen_US
cg.coverage.regionEastern Africaen_US
cg.creator.idde Leeuw, Jan: 0000-0002-2005-4351en_US
cg.creator.idBiradar, Chandrashekhar: 0000-0002-9532-9452en_US
cg.identifier.doihttps://dx.doi.org/10.3390/rs61110888en_US
cg.isijournalISI Journalen_US
cg.issn2072-4292en_US
cg.issue11en_US
cg.journalRemote Sensingen_US
cg.subject.agrovocagricultureen_US
cg.subject.agrovocremote sensingen_US
cg.volume6en_US
dc.contributorVrieling, Antonen_US
dc.contributorShee, Apurbaen_US
dc.contributorAtzberger, Clementen_US
dc.contributorHadgu, Kirosen_US
dc.contributorBiradar, Chandrashekharen_US
dc.contributorKeah, Humphreyen_US
dc.contributorTurvey, Calumen_US
dc.creatorde Leeuw, Janen_US
dc.date.accessioned2016-02-16T13:07:58Z
dc.date.available2016-02-16T13:07:58Z
dc.description.abstractGlobal insurance markets are vast and diverse, and may offer many opportunities for remote sensing. To date, however, few operational applications of remote sensing for insurance exist. Papers claiming potential application of remote sensing typically stress the technical possibilities, without considering its contribution to customer value for the insured or to the profitability of the insurance industry. Based on a systematic search of available literature, this review investigates the potential and actual support of remote sensing to the insurance industry. The review reveals that research on remote sensing in classical claim-based insurance described in the literature revolve around crop damage and flood and fire risk assessment. Surprisingly, the use of remote sensing in claim-based insurance appears to be instigated by government rather than the insurance industry. In contrast, insurance companies are offering various index insurance products that are based on remote sensing. For example, remotely sensed index insurance for rangelands and livestock are operational, while various applications in crop index insurance are being considered or under development. The paper discusses these differences and concludes that there is particular scope for application of remote sensing by the insurance industry in index insurance because (1) indices can be constructed that correlate well with what is insured; (2) these indices can be delivered at low cost; and (3) it opens up new markets that are not served by claim-based insurance. The paper finally suggests that limited adoption of remote sensing in insurance results from a lack of mutual understanding and calls for greater cooperation between the insurance industry and the remote sensing community.en_US
dc.formatPDFen_US
dc.identifierhttp://www.mdpi.com/2072-4292/6/11/10888en_US
dc.identifierhttps://mel.cgiar.org/reporting/downloadmelspace/hash/J66SW4UU/v/4059f5ea21c41856ef20e31cc91ffb28en_US
dc.identifier.citationJan de Leeuw, Anton Vrieling, Apurba Shee, Clement Atzberger, Kiros Hadgu, Chandrashekhar Biradar, Humphrey Keah, Calum Turvey. (7/11/2014). The potential and uptake of remote sensing in insurance: A review. Remote Sensing, 6 (11), pp. 10888-10912.en_US
dc.identifier.statusOpen accessen_US
dc.identifier.urihttps://hdl.handle.net/20.500.11766/4543
dc.languageenen_US
dc.publisherMDPIen_US
dc.rightsCC-BY-4.0en_US
dc.sourceRemote Sensing;6,(2014) Pagination 10888-10912en_US
dc.subjectindex insuranceen_US
dc.subjectnsuranceen_US
dc.subjectflood risk managementen_US
dc.titleThe potential and uptake of remote sensing in insurance: A reviewen_US
dc.typeJournal Articleen_US
dcterms.available2014-11-07en_US
dcterms.extent10888-10912en_US
mel.impact-factor3.406en_US

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