Agriculture insurance services
Crops insurance
THORNSTORN have developed and offered such services for range of crops which have developed crop guide for yield estimate/crop protocols for farmers to protect against drought, hail, wind, heat wave, excessive rainfall, fire, uncontrollable pest and disease, and other perils including:
- Annual crops: Such as maize, paddy, sesame, tobacco, potatoes
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Perennial crops Such as coffee, sugarcane, cashew nuts, cocoa, cotton
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Horticulture crops: Suh as tomatoes, cucumbers,
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Forestry crops: Such as trees and related crops.
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Green house and farmer equipment’s.
Crop insurance products
Area-yield index insurance (AYII)
THORNSTORN support development of Area Yield index insurance product and conduct loss assessment to determine pay-out this is a comprehensive cover where the indemnity is based on the realized (harvested) average yield of an area such as a county/ district or agro-ecological zone as unit of analysis for pay out using the crop cut survey (CCEs). The insured yield is established as a percentage of the average yield for the area (typically 50–90 percent of the area average yield). An indemnity is paid if the realized average yield for the area is less than the insured yield, regardless of the actual yield on a policyholder’s farm. This type of index insurance requires historical area yield data on which the normal average yield and insured yield can be established.
Weather index insurance (WII):
THORNTSORN have supported and developed weather index insurance product and develop analytical assessment to determine pay-out for different crops such as Tobacco, Maize, Paddy. The crop weather index insurance is an insurance product where the indemnity is based on realizations of a specific weather parameter measured over a pre-specified period of time at a particular weather station or for a given satellite grid. The insurance can be structured to protect against index deviations that are expected to cause crop losses. An indemnity is paid whenever the realized value of the index exceeds or falls short of a pre-specified threshold. The indemnity is calculated based on a pre-agreed sum insured per unit of the index (for example, dollars/millimetre of rainfall).The Tropical Application of Meteorology using Satelite (TAMSAT), African Rainfall Climatology Version 2 - (ARC2),Climate Hazards Centre InfraRed Precipitation with Station data (CHIRPS) are employed.
Hybrid weather index product
THORNSTORN help to create a hybrid index insurance and conduct loss assessment. Hybrid index insurance is a combination of area yield index insurance and weather index insurance or named perils such as in Tobacco the hailstorm. Instead of farmers waiting for compensation at end of season where the case for area yield index is, the hybrid enables farmers to be paid in different cycles as is offers to cover different stages of crop development i.e germination to harvest. There are three window in the hybrid the early window, late window both are used for payout determination.
Soil Moisture Index Insurance (SMI)
We offer Soil Moisture index insurance ( SOI) for crop such as maize, soyabean, sunflower, rice in partnership with different Data analytics which provide technical support for satellite imaginary and use of remote sensing. This crop insurance product utilizes soil moisture conditions for pay-outs instead of only rainfall (this will include yield and germination insurance). The soil moisture is determined using satellites, soil moisture probes, and DTS (distributed temperature sensing) in selected area. In offering such services we embed crop model (e.g. DSSAT) as a way of tailoring the service to particular conditions (e.g. soil type, crop type). This facilitates the down-scaling of soil moisture data from satellites, interpolating DTS measurements in the vertical direction, and provide a way to identify crop-specific thresholds on which to base the insurance index.
Multi-peril Crop Insurance (MPCI)
THORNSTORN help to develop MPCI insurance and conduct loss assessment. MPCI are suitable for can be individual policyholders such as large commercial farmers. The indemnity is based on the field assessment which is cost and time consuming. This means that the policyholder must fill in a questionnaire to help the insurer determine the number of bags the farmer can achieve. THORNSTORN have engaged in application of drone for analyzing growth at different stages and loss thereto and conducted three stage for indemnity ( Pre –inspection, Post emergence and harvest stage).
Livestock insurance
THROSTORN currently have partnered with big insurance to develop and offer livestock keepers who practice sedentary and nomadic pastoralism to offer
Livestock index product – this is for nomadic pastoralist who move with their livestock following pastures in the country side, the satellite data is used to capture the vegetation information and establish the status of the availability of vegetation which determine the pay-out scale in case of drought, this product is weather related. The Normalized difference vegetation index (NDVI)/satellite index insurance THONSTRORN are engaging to pilot NDVI product to livestock keepers. With this type of insurance, indices are constructed using time-series remote sensing imagery. For example, there are applications of false color infrared waveband to pasture index insurance, where the pay-out is based on a normalized difference vegetation index, which relates moisture deficit to pasture degradation. Normalized Difference Vegetation Index (NDVI) quantifies vegetation by measuring the difference between near-infrared (which vegetation strongly reflects) and red light (which vegetation absorbs).Normalized Difference Vegetation Index (NDVI) uses the NIR and red channels in its formula. Healthy vegetation (chlorophyll) reflects more near-infrared (NIR) and green light compared to other wavelengths. But it absorbs more red and blue light. NDVI always ranges from -1 to +1. But there isn’t a distinct boundary for cover. Healthy vegetation (chlorophyll) reflects more near-infrared (NIR) and green light compared to other wavelengths. But it absorbs more red and blue light. Therefore for pasture land it is easy to monitor forage for livestock insurance.
Livestock indemnity product – this is for nomadic pastoralist who move with their livestock following pastures in the country side, the satellite data is used to capture the vegetation information and establish the status of the availability of vegetation which determine the pay-out scale in case of drought, this product is weather related. The Normalized difference vegetation index (NDVI)/satellite index insurance THONSTRORN are engaging to pilot NDVI product to livestock keepers. With this type of insurance, indices are constructed using time-series remote sensing imagery. For example, there are applications of false color infrared waveband to pasture index insurance, where the pay-out is based on a normalized difference vegetation index, which relates moisture deficit to pasture degradation. Normalized Difference Vegetation Index (NDVI) quantifies vegetation by measuring the difference between near-infrared (which vegetation strongly reflects) and red light (which vegetation absorbs).Normalized Difference Vegetation Index (NDVI) uses the NIR and red channels in its formula. Healthy vegetation (chlorophyll) reflects more near-infrared (NIR) and green light compared to other wavelengths. But it absorbs more red and blue light. NDVI always ranges from -1 to +1. But there isn’t a distinct boundary for cover. Healthy vegetation (chlorophyll) reflects more near-infrared (NIR) and green light compared to other wavelengths. But it absorbs more red and blue light. Therefore for pasture land it is easy to monitor forage for livestock insurance.
