The London-based insurance technology firm, Skyline Partners has announced plans to launch its inaugural weather insurance product to offer protection to the Indian farmers by next year.
The founders of Skyline Partners, Gethin Jones, and Laurent Sabati have spent past one year in developing the technology-enabled insurance solution, which is aimed at the under-insured markets of the world. They believe that their product will offer affordable protection for the farmers in India.
Jones and Sabati, who were part of a fintech delegation led by the Lord Mayor of London to India a few days back said, “Our vision is to offer commercially viable and affordable insurance to the underserved markets of the world. The two said “We are humbled to be part of this business delegation in India with the Lord Mayor of London. His business of trust is a motivation and it is an honor to join efforts for a strong UK-India collaboration”.
Skyline Partners technology-powered weather insurance offering aims at the global protection gap and newly secured funding to expand its business from innovation hub OneAdvent. The company’s unique technological offering is extraordinary in this space and will certainly be a game changer in an industry that is at a turning point. OneAdvent CEO, David Hill said, “we are thrilled that both our investment and platform will offer them with the tools they require to break into the market”.
Natural calamities, climate change and poor weather cause major impact to the world’s population, most of which have inadequate access to financial protection. These risks affect several industries including Agriculture, Tourism, Renewable Energy, Transport and Construction etc. Hence partnered with IBM and a group of international reinsurers, Skyline Partners make use of technology and independent data to restore trust, eradicate moral hazard as well as reduce cost of risk.