Introducing the Lemonade Crypto Climate Coalition

June 30, 2023

This is typically where insurance can be very valuable, but in this part of the world, weather insurance is either too expensive, or non-existent. The Lemonade Crypto Climate Coalition, funded by the Lemonade Foundation, was formed to tackle this problem by solving three main challenges: accurately quantifying weather risks; automating claim assessment; and providing adequate funding and reinsurance. The Lemonade Crypto Climate Coalition brings together industry-leading partners with expertise in various fields to work together on solving these challenges. Avalanche, Chainlink, and DAOstack will contribute their vast knowledge of blockchain technology while Lemonade, Etherisc, Hannover Re, and Pula will build highly accurate, fully automated weather insurance models. If those sampled farms didn’t hit that target, then all 1,000 farms within the broader zone would receive a crop insurance payout—instantly.

The source of this news is from Lemonade