Suyana provides parametric climate insurance solutions utilizing satellite data and climate models for precise risk characterization. The platform automatically triggers payouts when predefined climate thresholds, such as low soil moisture, are crossed, ensuring fast disbursement for agricultural, urban, and coastal protection. This technology bridges the climate protection gap by offering accessible and affordable coverage without traditional claims processes.
Funding
Funding not disclosed
Founders
Product
Problem
Extreme climate events such as droughts, floods, and storm surges cause significant economic losses globally, with a substantial portion of these losses remaining uninsured. This protection gap is particularly pronounced in developing regions, leaving vulnerable communities exposed to devastating financial impacts.
Solution
Suyana provides parametric climate insurance solutions designed to address the protection gap. By integrating high-precision satellite data with proprietary algorithms and global climate models, Suyana quantifies climate perils and associated economic risks. This data-driven approach enables the creation of accurate, accessible, and affordable insurance products. Payouts are automatically triggered when predefined climate index thresholds are met, ensuring rapid and reliable financial relief for policyholders. Suyana partners with financial institutions to scale the distribution of these climate protection products to communities most in need.
Target Audience
Primary customers include financial institutions, banks, and other financial service providers seeking to offer climate risk protection to vulnerable communities and businesses.
Features
- Parametric insurance products triggered by predefined climate indices (e.g., soil water content, wave intensity).
- Utilization of high-precision satellite data, remote sensing, and global climate models for peril assessment.
- Proprietary algorithms for data enhancement, combining multiple sources to characterize climatic events and economic exposure.
- Risk aggregation methodology that optimally clusters areas and designs products to minimize basis risk.
- Partnership framework with financial institutions for scaled product distribution.
- Data collection encompassing satellites, sensors, climate models, and field surveys.