Academics2021 · Research Assistant, University of Cape Coast
Climate Risk Pricing Model for Agricultural Insurances
A stochastic rainfall and drought risk model used to simulate premium thresholds for index-based crop insurance in Elmina, Ghana.
PythonSPSSMonte CarloRisk Modeling
The challenge
Index-based crop insurance in Elmina needed defensible premium thresholds grounded in the region's actual rainfall and drought risk, not rough estimates.
The approach
Modeled stochastic rainfall and drought risks using SPSS and Python, then simulated premium thresholds through Monte Carlo analysis.
The outcome
Produced simulated premium thresholds that gave insurers a data-driven basis for pricing index-based crop insurance.