N.O.A.H.
en
en
en
en
en
en
Date of Foundation
2022

N.O.A.H.

Revolutionizing Agri-Insurance with Satellite Data

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The Idea origin story

Our startup, N.O.A.H., harnesses the power of satellite technology to reinvent agro insurance procedures. By utilizing detailed satellite imagery and spectral data analysis, we optimize underwriting processes and streamline claims adjustment. Our innovative approach provides an accuracy level previously unattained, allowing for more precise risk assessments and swift claim resolution. This results in a safer, fairer market space for agricultural insurance whilst reducing associated overhead costs.

The Mission

We seek to enchance food security by making agro insurance more available and widespread. Our vision is to provdie 1 hectar of crop monitoring coverage in Africa for each one hectar insured in US.

Clients

Agro insurance and re-insurance companies,

Problems we solve

Client’s problem

Your startup could solve the inefficiency challenge in agro-insurance underwriting and claims adjustment. It can also broaden access to agro insurance, particularly in regions like Africa where it's not widespread, thereby enhancing food security.

Confirmation of problem

We talked to several insurence carrieirs to get the problem confirmation. Accourdong to statistics over repayment ratio is already 95% in US.

Solution

AI-generated loss adjustment reports backed by proven satellite data. All securely stored on the cloud.

Our technologies

This solution is based on technologies

Satellite imaging, AI for data analysis, Blockchain for trust & transparency, IoT devices.

How it works

Our process is simple: Satellite photo taken at insurance time, data stored on cloud, damage photo captured, datasets compared for AI report.

Value for the client

"Boosting agro insurance trust with accurate, actual data via satellite imagery for improved underwriting & claims adjustment."

Market and strategy

Market size

1000

mln/year

We estimate the market size for which our solution is designed in monetary terms as follows

Market share goal

3

% of the market

Is our goal in the next 3 years

Team

My name’s

Mikhail Aleksandrov

My key role in the product

Your key role is CEO and you're responsible for strategic planning, company vision, decision making and team leadership.

Team size and key members

Sergey Gershun, CTO. Ex-SUN Microsystems engineer, built a CPA network, oversaw M&A process. 20 years in IT.

Competitors

Competitors

In addition to the companies you've listed, other potential competitors can include larger tech firms that may venture into satellite data and agricultural insurance such as Google through its Google Earth platform. Also think about smaller startups innovating in insurtech or agrotech sectors, not yet known today, but who could potentially enter your niche.

Our Advantages

Our strength lies in seeing insurance firms and farmers not just as customers, but partners. By offering valuable data along with our product, we create additional revenue streams for them. We aim to bolster trust within the agro-insurance ecosystem.

Business model

We sell additional product to the farmers through the insuarnce companies. The farmers pay $11 per hectare for the satellite coverage and incentivized to do so by the special insurance plan.

Traction

Our MVP is launched, successfully integrated with IAI's prestigious ASTRA Starburst Acceleration Program in Israel. We're now negotiating pilot initiatives with multiple insurance firms.

We're poised to initiate product sales across the United States, marking a crucial progress phase for our company. Our team eagerly awaits this momentous step in expanding our market reach.

Metrics

Covering vast areas in hectares, increasing rapidly. Expanding partnerships with numerous insurance firms for better outreach and service provision.

Incorporation

Our company incorporated in

Israel

Key risks

Main risks could include data inaccuracy, AI misinterpretation of satellite data, challenges in securing sufficient cloud storage space or dealing with its potential security issues, and the possible lack of interest from agro insurance companies.

Investments

$

100000

We raised investments

Our Investors

Bootstarpped

Rising Investments

$

250000

Currently, we are raising investments

$

2000000

Estimated pre-investment valuation of the company

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We’re looking for a co-founders

Open positions

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Additional information

N.O.A.H.
MVP
Date of Foundation
2022