Blue Marble develops index-based climate protection solutions that provide parametric insurance coverage for vulnerable populations, such as smallholder farmers facing climate risks like drought and excess rainfall. By streamlining insurance data exchange, the company enables organizations to implement scalable mass-insurance schemes that address the protection gap for underserved communities.
Funding
Funding not disclosed
Founders
Product
Problem
Smallholder farmers and other vulnerable populations in developing countries face significant financial risks due to climate-related events like drought and excess rainfall, but traditional insurance models often fail to reach these underserved communities. This "protection gap" leaves them without the means to recover from devastating losses, hindering economic stability and sustainable development.
Solution
Blue Marble provides index-based climate protection solutions, offering parametric insurance coverage that is specifically designed for vulnerable populations. By using weather indices, such as rainfall levels, as triggers for payouts, the company eliminates the need for traditional claims adjustments, enabling rapid and transparent compensation. Blue Marble streamlines insurance data exchange, allowing organizations to implement scalable mass-insurance schemes that effectively address the protection gap for underserved communities. Their solutions provide financial resilience to those most affected by climate change, fostering sustainable livelihoods and economic growth.
Target Audience
The primary target audience includes smallholder farmers in developing countries, vulnerable populations exposed to climate risks, and organizations seeking to implement scalable insurance solutions for underserved communities.
Features
- Parametric insurance products triggered by weather indices like rainfall and drought
- Scalable mass-insurance schemes for vulnerable populations
- Streamlined data exchange for efficient insurance operations
- Partnerships with organizations like Nespresso and Nestlé to reach smallholder farmers
- Weather index insurance program for coffee farmers in Colombia, protecting against climate-related challenges
- Use of satellite-based climate data for accurate weather impact assessment
- Automatic payments to registered farmers based on weather severity