CORE BUSINESS
IBISA is a Climate InsurTech offering turn-key solutions in the field of satellite-based parametric insurance. We harness the power of satellite data to design index-based insurance products to provide coverage against climate change and weather-related risks. Our primary focus is to bring transparent, understandable, and affordable insurance solutions that protect businesses and communities against extreme climatic events.
IBISA is headquartered in Luxembourg and has a fully owned subsidiary in India established in 2022. Apart from these two locations, we have teams in Ghana, Kenya and the Philippines. The team comprises of 20 professionals divided into technical profiles, operations, and sales across different countries.
IBISA currently operates in the Philippines, India, Ghana, Nigeria, Senegal and Kenya designing and operating weather insurance products in partnership with local insurers and global reinsurers. Along with these countries, we have also worked on anticipatory actions forecast index insurance design for Guatemala, and conducted feasibility studies for New Zealand, Niger and Madagascar.
At IBISA, we strive to make a difference through our specialized technology platform, designed explicitly for parametric insurance.
IBISA is aware of the financial challenges and climate vulnerabilities faced by low-income populations in developing economies. We’re committed to enhancing the resilience of these communities against weather-related risks through our tailored insurance products. Most of the countries we have worked in are emerging economies where we learnt the importance of affordability in product design.
PRODUCTS & SERVICES
Our platform utilizes satellite data to assess weather risks, enabling us to create tailor-made insurance products and manage claims efficiently. Its processing capabilities allow for swift large-scale computations, which leads to quick underwriting and settlements. Additionally, its flexibility enables us to adapt our products to local conditions, catering to our customers’ specific needs across various regions. Importantly, our technology approach offers cost-efficiency, allowing us to handle significant volumes without compromising on service quality.
We offer satellite-powered parametric insurance against climate risks, primarily to climate-exposed communities and businesses. Using our in-house earth observation experience and proprietary risk models, we design insurance products based on weather data analysis, covering against factors such as excess rainfall, drought, heat stress, and more. We also offer clients an intuitive policy management platform that monitors insured events, sends alerts, and facilitates swift claim responses. IBISA has five core products viz,
- Rain index based coverage
- Typhoon coverage
- Heat Stress coverage
- Loan protection coverage
- Multi-risk coverage
With our inclusive and adaptive model, we can cater to diverse geographical locations and climate vulnerabilities. Beyond insurance services, we consult, guiding our clients in designing insurance products and pricing them. Harnessing the power of Earth observation satellites, we’re committed to making climate risk insurance affordable, accessible, and effective for those most in need.
TECHNICAL MEANS
IBISA Earth Engine:
This powerful module handles various essential tasks, including downloading, controlling, processing, and analysing weather and climatic data.
IBISA Risk Modelling software:
This component enables the swift and scalable design and pricing of insurance coverages.
IBISA Platform:
This module serves as a centralized platform for policy distribution, monitoring, and operations. By utilizing this module, our customers gain comprehensive control and oversight over their policies, streamlining the administrative processes involved.
MAIN CUSTOMERS
- Leading insurance companies in the Philippines, India, Bangladesh, Sri Lanka Senegal, Ghana, Kenya and Nigeria
- Micro Finance Institutions in India, Bangladesh, Ghana and Kenya
- Agriculture input providers
- Renewable Energies companies
- MSMEs
- National and state level government in Asia and Africa
MAJOR SPACE PROJECTS
ESA Business Applications
