UK firm Skyline to launch weather insurance for Indian farmers by next year

London-headquartered insurance technology company Skyline Partners has announced plans to launch its inaugural weather insurance product to provide protection to farmers in India by next year.

The company's founders, Gethin Jones and Laurent Sabatié, have spent the last year developing the technology-enabled insurance solution targeted at the underinsured markets of the world and believe their product will provide affordable protection for India's farmers.

"Our vision is to provide commercially viable and affordable insurance to the world's underserved markets,” said Jones and Sabatié, who were part of a fintech delegation led by the Lord Mayor of London to India last week.

"We are humbled to be part of this business delegation in India with the Lord Mayor of London. His business of trust is an inspiration and it is an honour to join efforts for a strong UK and India collaboration," they said.

The company's technology-powered weather insurance offering targets the global protection gap and recently secured funding to grow its business from innovation hub OneAdvent.

"Skyline Partners' unique technological offering is unprecedented in this space and will undoubtedly be a game changer in an industry that is at a crossroads. We are excited that both our investment and platform will provide them with the tools they need to break into the market,” said OneAdvent CEO David Hill.

Lord Mayor of London Charles Bowman added: "During the course of our visit to India there was lots of interest in their offer, and I look forward to hearing about the company's future successes as a result of our trip."