Advancements in Technology Bolster Climate Resilience: Sarathy Srinivas Provides Crucial Information
Gearing Up for Climate Resistance:Breaking Down the Tech-driven Solution to Climate Change Challenges
In today's world, climate change isn't a looming issue—it's a reality, particularly for small-scale farmers and exposed communities across the globe. But technology is stepping up and providing innovative ways to combat this crisis. Take a deep dive into the rollercoaster conversation between Priya Dialani and Sarathy Srinivas, the Head of International Business at Weather Risk Management Services (WRMS Global).
WRMS Global set sail nearly two decades ago amid India's farming crisis—their endeavor born from the urgent need to empower communities faced with climate challenges. With smallholder farmers scraping by on a daily basis, failed monsoons pushing them further into debt, and a system unwilling or unable to support them, WRMS Global was created as a mission-driven enterprise dedicated to fostering climate resistance.
Now, the mission is more vital than ever. The firm's architectural blueprint is comprised of three foundational pillars: insurance, data, and technology—the foundations of a resilient future.
"We elevate the speed of assistance, using technology to offer protection, services, and information swiftly and affordably," shares Sarathy Srinivas, emphasizing that long gone are the days of waiting for aid to arrive.
WRMS Global's Chops: Steering Climate Resistance on a Global ScaleWRMS Global is forging the path as a parametric insurance pioneer, uprooting traditional claim systems to create frictionless payouts for farmers.
Imagine a world where an agreed rainfall threshold (let's say 100mm) is met or surpassed. In this scenario, a payout is automatically triggered—no paperwork, no inspections, no questions asked. This pay-what-you-see model ensures both predictability and security—addressing a significant deficiency in rural insurance coverage.
With this innovation in their toolkit and data infrastructure that ingests over 30 million climate data points from various sources, WRMS Global is scaling to 20 more countries. The company's goal: flip the insurance model on its head, turning it into a streamlined, efficient, and trustworthy mechanism for the masses.
Small Impact, Big Results:
WRMS Global's strategy is bearing fruit across multiple fronts:
Affordable Insurance: By nixing ambiguity and accelerating financial support when disasters strike, users gain access to affordable protection.
Smart Agriculture: Real-time data and advisories help farmers make informed decisions for planting and harvesting, boosting their chances for a bountiful yield.
Scalability Galore: With cloud-based platforms and smart devices, WRMS Global can extend services far and wide without piling on operational complexities.
The results are impressive: over 10 million lives impacted, a US$5 billion resilience portfolio under management, and 50+ institution partnerships establishing the company's reputation as a leading innovator in climate resistance.
"Resilience isn't a privilege—it's a right," declares Sarathy Srinivas. "And we're demonstrating that technology, when wielded with intent, can turn that promise into reality."
From Battle to Empowerment: WRMS Global's Mission for a Climate-enabled Future"Climate risks keep climbing—so too must our solutions." Sums up Sarathy Srinivas in conclusion. "Our vision remains constant: make the communities we serve climate-resistant—efficiently, fairly, and on a global scale."
Catch the podsycast episode with Priya Dialani and Sarathy Srinivas, and dive deeper into the incredible impact of technology on climate resistance.
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- Sarathy Srinivas, the Head of International Business at Weather Risk Management Services (WRMS Global), emphasizes their use of technology to provide rapid, affordable protection, stating, "We elevate the speed of assistance, using technology to offer protection, services, and information swiftly and affordably."
- With the implementation of data-and-cloud-computing technologies, WRMS Global aims to overhaul the insurance model, transforming it into a streamlined, efficient, and trustworthy mechanism, thereby fostering environmental-science research and promoting climate-change resistance on a global scale.
