Reports Outline Sustainable Development Study Findings from Renmin University of China (Remote Sensing Application in Pure Premium Rate-Making of Winter Wheat Crop Insurance): Sustainability Research – Sustainable Development

2023 MAY 16 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Research findings on sustainable development are discussed in a new report. According to news originating from Beijing, People’s Republic of China, by NewsRx correspondents, research stated, “Crop insurance is a crucial way to avoid disaster losses and to guarantee farmers’ basic production income in China and abroad.”

Funders for this research include Fundamental Research Funds For The Central Universities; Research Funds of Renmin University of China.

Our news journalists obtained a quote from the research from Renmin University of China: “Securing agricultural production is a critical way to eradicate hunger and reduce poverty and an essential means to achieve the UN Sustainable Development Goals. How to pay out more quickly and fairly after a disaster has become an urgent issue for agricultural insurance. The standard domestic crop insurance rate is determined based on the statistical data of the entire administrative unit and ignores the spatial risk difference of disasters inside the administrative unit. Therefore, obtaining a pure premium based on crops inside the administrative unit is a key problem. Based on remote sensing data and insurance actuarial models, we studied and determined the fair premium rates to insure winter wheat at the farmer level in Heze, Shandong, China.”

According to the news reporters, the research concluded: “Our study shows that remote sensing data can provide data security for determining a pure premium rate at the level of individual farms, and provide the primary reference for determining farmer-level crop insurance premium rates. The use of remote sensing for determining those rates can improve the customization of crop insurance and reduce farmers’ lower incomes due to exposure to natural disasters, improve farmers’ resilience to risk, and prevent a return to poverty due to disasters, ultimately reaching the UN Sustainable Development goals of eradicating hunger and reducing poverty.”

For more information on this research see: Remote Sensing Application in Pure Premium Rate-Making of Winter Wheat Crop Insurance. Sustainability, 2023,15(9). (Sustainability - http://www.mdpi.com/journal/sustainability). The publisher for Sustainability is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/su15097133.

Our news editors report that additional information may be obtained by contacting Weijia Wang, Center for Spatial Information, School of Environment and Natural Resources, Renmin University of China, Beijing 100872, People’s Republic of China. Additional authors for this research include Wen Wang, Kun Wang, Yanyun Zhao, Ran Yu.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Weijia Wang (http://orcid.org/0009-0000-5456-1733), Wen Wang (http://orcid.org/0000-0003-2728-7737).

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