The agricultural sector is increasingly affected by natural disasters [4] worldwide. These events account for 25% of the damages suffered and reach up to 80% during the periods of drought.
Faced with a rising loss experience, insurance companies are evolving and offering specific products tailored to advanced technologies. The use of satellites, drones or the installation of sensors on the ground will help refine products and develop insurance.
According to Jean Christophe Debar, manager of the Foundation for World Agriculture and Rurality (FARM), the cross between the sophisticated observation tools and the Big Data should provide new opportunities for insurers. The latter believe that new technologies will facilitate risk assessment and claims settlement.
Farmers, however, remain reluctant. They find that the premiums applied are high compared to the risks covered.
It should be noted that agricultural insurance [5] has mainly developed in emerging Asian countries and high-income ones such as China, India and the United States. These three countries, alone, account for 38% of the global premiums.