In 2016, an operational project was established by the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to develop an Agricultural Drought Loss Model for Central America and the Caribbean. The model is designed for parametric insurance, a form of catastrophe insurance that aims to provide support to governments subjected to major natural disasters especially in small countries that are prone to frequent disaster.
The Mexican firm ERN (http://www.ern.com.mx/web/) was selected to design the model in cooperation with RED (http://www.redpavia.com/), and turned to TA for two important tasks within the project:
TA designed a tailor-made solution to produce agricultural land cover and urban extent maps starting from space-borne and in-situ data at the desired level of precision and accuracy, while keeping costs down to a reasonable level. TA staff worked shoulder-to-shoulder with ERN and RED staff to find together the best solution and deliver an optimal compromise among the trade-off factors involved.
The final delivery in December 2016 put in place an important brick in the construction of the operation Caribbean model, and made customers satisfied of the tailored solution developed by TA.