Crop Yield Forecasts for Crop Insurance and Reinsurance
Analyze Yield and Production Risk with CropProphet
CropProphet is a sophisticated yield and production forecasting system for corn, soybeans, and winter wheat. While some yield forecast systems focus on using NDVI data as a primary input, CropProphet models crop yields and production based on weather information. During the crop season, the forecast is updated every day as the weather evolves allowing crop insurance and reinsurance providers to monitor in-season risk. CropProphet is the only crop yield forecast product that can estimate the yield impact implied by weather forecast models.
Review our 2018 corn and soybean yield forecast performance.
Review the performance of our corn yield/production forecasts over the past 4 years.
In Season Monitoring of Crop Yield Risk
CropProphet enables users to quantify the impact weather is having on the yield and production of the three primary crops at the county level. Our forecasts are based on county level forecasts that are rolled up to produce an accurate national level crop yield forecast. CropProphet is not a weather forecast solution. It is a crop yield and production forecast solution based on weather conditions and forecasts.
CropProphet is available as a web-based service with access to digital forms of the daily updated forecast and historical data via FTP.
Consider the following product characteristics. CropProphet:
- Monitors and forecasts yield and production development during the crop season at the county level. It allows users to pinpoint the locations of the MPCI policies written with the detailed analytics provided by CropProphet to better understand if mid-season risks are materializing
- Makes attractive maps – communication mid-season regarding any risks that may be materializing is easier to discuss with a map based analysis.
- Provides useful analytics – analytics such as the yield and production deviation from the prior year, deviation from trend, and 5% and 95% percentile yield analyses allow Crop Insurance companies to deeply analyze risks in the portfolio.
- Enables FTP access to a wide range of data – automated data acquisition saves time and enables improved analysis and application development. We even reformat and provide NASS data, making it easy to access.
Crop Risk Analysis Data is Available
CropProphet uses data mining to compare weather conditions to annual yields at the county, state, and national level. This means we can provide extensive historical model forecast performance information. Crop Insurance and reinsurance providers can use this data to model portfolio risks, capital allocation plans, and policy pricing strategies. Up to 33 years of historical model performance is available to measure weather risk in your crop insurance portfolio.
CropProphet has other unique characteristics.
CropProphet is available for a free one week trial. Request a trial today!