Agroinsurance

NEWS

Crop weather index insurance market to hit $3.3b by 2029

13.10.2025 23 views

Growth has been supported by greater climate unpredictability, increased farmer awareness, rising climate-related crop losses, and stronger government support programs.

By 2029, the market is projected to reach $3.30b, growing at a 12.8% CAGR. Expansion will be driven by wider use of advanced weather technologies, government initiatives, investment in climate resilience, and the integration of digital platforms in insurance delivery.

Key trends include the use of satellite and IoT technologies for data collection, AI-based risk modeling, blockchain-enabled claims processing, and mobile-first insurance platforms.

The continued rise in extreme weather events such as floods, droughts, and storms is expected to remain a key factor supporting market growth.

Source - Insurance Asia

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22.10.2024

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