How our Weather Index Insurance would work

Hillridge weather insurance. Hillridge's model. Hillridge Technology's model. Hillridge Technology Weather Insurance.

Examples of this model in practice

Drought

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Joe is a cattle farmer just outside Lithgow, New South Wales, whose herd suffered because of a local drought. He had drought protection, which triggered an automatic payment after the BOM declared a severe rainfall deficiency in his area. The payout was half his average annual farmgate revenue, allowing him to buy feedstock for his herd, and keep his kids at boarding school. 

CYClone

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Barbara is a mango farmer in Bowen, Queensland. She was on track for a bumper crop, but a Category 3 cyclone passed within 30 km from the farm just before harvest. The trees survived, but it devastated the crop. She had storm protection, which automatically triggered a payment of 70% of her average mango revenue based on the farm’s distance from the eye of the storm and its intensity. 

Frost

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George is a wheat farmer in Western Australia who took out a large loan to buy his neighbour’s property. He doesn’t like being beholden to the banks, so he took out weather-based income protection for three years. In the second year, there was a late spring frost 10 days in a row which reduced his yield by half. Since frosts were covered under his plan, he was paid 30% of a normal year’s revenue. With that, and the money he made from selling his (smaller than usual) crop, he was able to meet that year’s loan repayment.