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Crop Yield Forecasting Powered by Advanced Drone Analytics

The Problem with Traditional Crop Yield Forecasting

Insurance companies face a significant challenge in accurate crop yield forecasting, a critical factor in assessing risk and determining premiums for crop insurance policies. Traditional methods, such as relying on historical data and weather patterns, often fall short in providing real-time, field-level insights. This can lead to inaccurate risk assessments, resulting in either underpricing or overpricing insurance policies, ultimately affecting both insurers’ profitability and farmers’ coverage adequacy. 

Enhancing Crop Yield Forecasts with Artificial Intelligence

Aerial Vantage is committed to staying at the forefront of the latest drone data analytics trends and innovations for our customers. Our expertise in using artificial intelligence and machine learning allows us to turn captured data into value, developing the framework for a computer vision algorithm that consistently provides insights. This is achieved in two steps: 

  • Analyzing Imagery Data: Platform analyzes disparate image data and applies Deep Learning models that are custom tuned to fit your insurance operation. 
  • Delivering Actionable Insights: Data products and dashboards provide timely information. 

According to industry reports, adopting advanced analytics for crop yield forecasting can reduce insurance losses by up to 20%.

The Power of Real-Time Drone Data

Aerial Vantage offers a transformative solution to the crop yield forecasting dilemma. Our innovative drone analytics software utilizes proprietary, cutting-edge computer vision and AI algorithms to process real-time, drone-generated data, providing insurers with an unparalleled level of accuracy and granularity for crop yield forecasting. With Aerial Vantage, insurers can: 

Extract

Gain real-time insights into crop health, growth patterns, and potential yield across vast agricultural landscapes.

Monitor

Identify and monitor stress factors such as nutrient deficiencies, pest infestations, and irrigation issues.

Assess

Accurately assess crop yield potential at a field-level scale, enabling more precise risk assessment and insurance pricing.

Inform

Proactively mitigate potential losses by identifying and addressing crop health issues early on.

Making an Impact

Aerial Vantage is at the forefront of leveraging drones, BVLOS waivers, and complex algorithms to revolutionize the insurance agriculture space. Our solution supports a more sustainable and profitable future for the industry.

Transforming Underwriting and Claims

Aerial Vantage’s real-time, drone-generated data empowers insurance companies to revolutionize their underwriting and claims:

Underwriting

  • Accurately assess risk and determine premiums based on real-time crop health data, ensuring fair pricing for both insurers and farmers
  • Identify high-risk areas and develop targeted risk mitigation strategies
  • Support portfolio management and risk diversification

Claims

  • Quickly and accurately assess crop damage claims using drone-generated data and imagery
  • Verify the extent of damage and identify potential fraud cases
  • Streamline the claims process, reducing administrative costs and improving customer satisfaction

Plug and Play Technology

Our crop yield forecasting model acts as a framework that can be fine-tuned to your operations. We enhance underwriting processes such as risk assessments and policy development by leveraging generalized inputs, including open-source historical tabular information and imagery. Data sources and predictions can be customized for specific industries, with a focus on rapid turnaround and low development effort. 

Today, the need for trustworthy yield data is paramount. Aerial Vantage delivers highly accurate and comprehensive crop yield forecasts without having to set foot on the property. Let us empower your decisions with precision. Get in touch to witness the future of crop yield forecasting for insurance. 

Ready to get started?

Meet with a Product Specialist to see if our technology is a good fit for your operations.

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