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CORDIS
Objective
To objective of the BEACON project is to develop a commercial service package that will enable insurance companies to exploit the untapped market potential of Agricultural Insurance, taking advantage of innovations in Earth Observation, weather intelligence and ICT / blockchain technology. BEACON will enable insurance companies to alleviate the effect of weather uncertainty when estimating risk for Agricultural Insurance products, reduce the number of on-site visits for claim verification, reduce operational and administrative costs for monitoring of insured indexes and contract handling, and design more accurate and personalized contracts. Through an early warning service they will be able to inform their customers (farmers) for potential crop risks related with weather conditions, and advise them to take all the necessary actions to mitigate the impact of weather in their crops. EO data derived by Copernicus Sentinel missions as well as by missions contributing to Copernicus will be used to develop the data products that will act as a complementary source to the information used by insurance companies to design their products and assess natural disasters. Weather intelligence based on data assimilation, numerical weather prediction and ensemble seasonal forecasting will be used to verify the occurrence of a catastrophic weather event and to predict future perils. ICT / blockchain technology will be used for the smart contract service, to provide insurance companies with an automated method for paying out damages to insured parties. The BEACON services will be deployed in the operational environment of more than 10 companies in the insurance sector, openly demonstrating and validating its value proposition and acceptance as a marketable commercial solution. A business model will be developed and validated using the Lean Start-up methodology, and a global roll-out of BEACON will be designed.
Fields of science
- natural sciencesearth and related environmental sciencesatmospheric sciencesmeteorology
- natural sciencescomputer and information sciencescomputer securitycryptography
- social scienceseconomics and businessbusiness and managementbusiness models
- agricultural sciencesagriculture, forestry, and fisheriesagriculture
- natural sciencesearth and related environmental sciencesphysical geographynatural disasters
Keywords
- agricultural insurance
- meteorological data
- risk management
- smart contracts
Programme(s)
- H2020-EU.2.1.6. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies – Space Main Programme
- H2020-EU.2.1.6.1. - Enabling European competitiveness, non-dependence and innovation of the European space sector
- H2020-EU.2.1.6.3. - Enabling exploitation of space data
Topic(s)
- DT-SPACE-01-EO-2018-2020 - Copernicus market uptake
Call for proposal
H2020-SPACE-2018-2020
See other projects for this call
Sub call
H2020-SPACE-2018
Funding Scheme
IA - Innovation action
Coordinator
KARAVIAS MESITES ASFALISEON KAI SYMVOULOI ASFALISEON ANONYMI ETAIRIA
Net EU contribution
€ 501 603,13
Address
EVRIPIODU 12
105 59 ATHINA
Greece
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SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Yes
Region
Αττική Aττική Κεντρικός Τομέας Αθηνών
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
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Total cost
€ 716 575,90
Participants (6)
Net EU contribution
€ 378 437,50
Address
34 KORITSAS STR.
551 33 THESSALONIKI
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SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Yes
Region
Βόρεια Ελλάδα Κεντρική Μακεδονία Θεσσαλονίκη
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
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Total cost
€ 540 625,00
UNIVERSIDAD POLITECNICA DE MADRID
Spain
Net EU contribution
€ 180 000,00
Address
CALLE RAMIRO DE MAEZTU 7 EDIFICIO RECTORADO
28040 Madrid
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Region
Comunidad de Madrid Comunidad de Madrid Madrid
Activity type
Higher or Secondary Education Establishments
Links
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Total cost
€ 180 000,00
ETHERISC GMBH
Germany
Net EU contribution
€ 158 375,00
Address
ZELLER WEG 35A
82057 Icking
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SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Yes
Region
Bayern Oberbayern Bad Tölz-Wolfratshausen
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
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Total cost
€ 226 250,00
FACULTY OF CIVIL ENGINEERING
Serbia
Net EU contribution
€ 110 750,00
Address
BULEVAR KRALJA ALEKSANDRA 73
11000 Belgrade
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Region
Србија - север Београдски регион Београдска област
Activity type
Higher or Secondary Education Establishments
Links
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Total cost
€ 110 750,00
INOSENS DOO NOVI SAD
Serbia
Net EU contribution
€ 170 625,00
Address
SONJE MARINKOVIC 18/1/3
21000 Novi Sad
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SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Yes
Region
Србија - север Регион Војводине Јужнобачка област
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
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Total cost
€ 243 750,00
ETAM ANONYMH ETAIREIA SYMBOYLEYTIKON KAI MELETHTIKON YPIRESION
Greece
Net EU contribution
€ 233 625,00
Address
ODOS G PAPANDREOU 5
71306 Irakleio
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SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
Yes
Region
Νησιά Αιγαίου Κρήτη Ηράκλειο
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
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Total cost
€ 333 750,00
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Last update: 20 July 2023
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Permalink: https://cordis.europa.eu/project/id/821964
European Union, 2024
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