Skyline Partners, a UK-based insurance technology firm, has revealed plans to launch its new weather insurance product to farmers in India.

Targeted at the underinsured markets, the technology-enabled Indian weather insurance product is expected to be launched by next year.

The offering has been developed by the company’s founders Gethin Jones and Laurent Sabatié. They spent the last year developing the product and believe that their product will offer affordable coverage for farmers in India.

Indian weather insurance

Jones and Sabatié said: “Our vision is to provide commercially viable and affordable insurance to the world’s underserved markets.

“We are humbled to be part of this business delegation in India with the Lord Mayor of London. His business of trust is an inspiration and it is an honour to join efforts for a strong UK and India collaboration.”

Skyline Partners recently secured funding from innovation hub OneAdvent to expand its business.

OneAdvent CEO David Hill said: “Skyline Partners’ unique technological offering is unprecedented in this space and will undoubtedly be a game changer in an industry that is at a crossroads. We are excited that both our investment and platform will provide them with the tools they need to break into the market.”

Skyline has teamed with IBM and a panel of international reinsurers to leverage technology and independent data to abolish moral hazard and reduce cost of risk.