ZEP-RE expands Planet collaboration for drought insurance in Horn of Africa

By Taaza Facts

Published on:

Drought


Today, a prominent provider of daily Earth data and insights, Planet Labs PBC, announced a contract renewal with ZEP-RE, an African reinsurance firm headquartered in Nairobi, Kenya.

This renewed collaboration builds on a successful first year of partnership, using Planet’s insurance solutions to enhance drought risk management in the Horn of Africa (HOA).

The agreement sets the stage for ongoing collaboration in a 5-year initiative, concluding in October 2027.

Berend de Jong, Global Insurance & Finance Lead at Planet, said: “Drought is a persistent threat not only to the health and well-being of livestock in the HOA, but also to the livelihoods of communities, impacting their economic stability, social cohesion, and overall quality of life.”

“Our data is a powerful and unique tool for ZEP-RE to develop and execute insurance programmes that help protect the livelihood of pastoralists in these drought-vulnerable geographies. Planet data helps provide transparency and trust for all partners involved. The strength of our satellite network enables the continuity of the data service. We look forward to continuing and expanding this critical work together.”

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Currently, ZEP-RE utilises Planet solutions to broaden its insurance programme, aiding over 2 million pastoralists impacted by drought in the HOA. A customised drought index, tailored by location, determines payout amounts and premium rates, facilitating direct claims payments to pastoralists. Originally targeting 1.6 million pastoralists by year five, the programme achieved this goal by its second year.

ZEP-RE employs Planet satellite data and reporting to assess vegetation health across an area exceeding 1,000,000 km2 in the Horn of Africa. This data enables ZEP-RE to evaluate conditions objectively, measure drought severity, and swiftly compensate affected pastoralists in the event of drought.

“Since our partnership began, we have been impressed by the resilience and scope of Planet’s data set,” commented Hope Murera, CEO at ZEP-RE.

“Through near-daily data availability, we are able to track shifting NDVI values with high frequency helping us be more efficient in our payouts to better serve these vulnerable communities affected by drought,” further added Murera.

ZEP-RE and Planet initiated their partnership in October 2022 through the DRIVE programme, aimed at improving pastoralists’ access to financial services for drought risk management, integrating them into value chains, and facilitating livestock trade.

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Taaza Facts

I am a multifaceted content creator with expertise in blogging, Finance, and Cryptocurrency reviews. My creative journey involves weaving captivating stories in blogs, designing aesthetically pleasing and functional websites, and dissecting the nuances of cinema. We are dedicated to sharing our passion and insights with a global audience.

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