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  "documentTitle": "COPERNICUS Market report February 2019",
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      "text": "Overall, despite some challenges and a moderate potential in terms of maximum uptake, insurers tend to show optimism on the trends for satellite data adoption.",
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      "text": "DRIVER 1: Although still a niche, index products offer a steady approach for insurance policies\nDRIVER 2: Post event images allow insurers to anticipate crises management, improving customer service\nDRIVER 3: Opportunities for intermediate market to fill the gap between required Earth Observation expertise and insurers business",
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      "text": "CHALLENGE 1: Contribution of Earth Observation data curbed by the statistical nature of insurers needs for risk models\nCHALLENGE 2: Many insurers are derivative users of Earth Observation products, with limited internal expertise\nCHALLENGE 3: Basis risk is improving but still far from being accurate",
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      "text": "Traditional insurance policies are difficult to implement on some markets due to the limited presence of local sensors for data gathering. Parametric products offer a good potential for remote areas, in particular for agriculture.",
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      "text": "Insurers rely extensively on statistical models for risk modelling, and use long historical datasets to simulate thousands of years of events. The data from satellites can be used for calibration or marginal improvement on some inputs, but is not able to replace these stochastics approaches.",
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      "text": "Investing in EO capabilities is subject to prior demonstration of the added value to their business. Apart from large reinsurance groups, initial experiments are conducted with limited means, with challenges to acquire and manipulate satellite images, hindering the potential for initial investments in this direction.",
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      "text": "INSURANCE FOR NATURAL DISASTERS",
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      "text": "DRIVERS AND CHALLENGES FOR THE ADOPTION OF EARTH OBSERVATION BY INSURERS",
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