What is the story about?
What's Happening?
Joro, a new AI-driven weather forecasting solution, has been launched by Planette to address the growing demand for sophisticated climate intelligence in the insurance and finance sectors. The platform uses a combination of physics-based climate models and AI to integrate data from various atmospheric, oceanic, and terrestrial sources. This approach aims to provide more accurate predictions than traditional meteorological services, helping industries better assess climate-induced risks and pricing challenges. The launch comes at a time when insurers are increasingly retreating from climate-vulnerable regions due to rising claim costs and policy non-renewals.
Why It's Important?
The introduction of Joro represents a significant advancement in the ability of insurers and financial institutions to manage climate-related risks. By providing more precise weather forecasts, Joro can help these industries enhance their resilience and maintain service quality amidst increasing weather volatility. This is crucial as climate change continues to impact the financial stability of businesses, leading to higher insurance rates and reduced market presence in vulnerable areas. The platform's ability to offer detailed predictions could also support better decision-making and strategic planning in the face of environmental challenges.
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