Hailios expands to Australia

Colorado-based Hailios , a developer of the world’s first compact, scalable and wireless hail detection and analysis system, has expanded to Australia to protect high-value agriculture.

Founded in 2017, the company acts as a third-party data provider for parametric coverage, primarily, that’s being offered by its partners in Australia like Descartes Underwriting , with backing from ‘multiple large reinsurers’. The company is already involved in protecting several orchards in Australia, from kiwis to macadamia nuts.

“There’ve been times when we thought, this is too hard, maybe instead we should just create an Internet of Baguettes connecting lovers of crusty bread everywhere, or something like that. Investors and customers would certainly be hungry for that. But nope, we stuck with IoT in the form of scalable hail sensors, because no one else has that and because hail caused $200B+ damage in the last decade and it’s rising with climate change. Fortunately, we finally solved the tech and now all the leading insurance players are saying they need accurate and scalable hail data that only our sensors can provide.  We’ll save the baguettes idea for another day. Seriously, though, we’re very pleased that Hailios’ hyper-accurate hail data is now helping to enhance climate resilience and food security in Australia as it has been doing since launching last year in the United States.” – Rob McMullan, Vice President of Business & Corporate Development at Hailios.

“Hailios has developed a world class system that we use in Australia and elsewhere to confidently and efficiently underwrite parametric hail policies, which help to better protect farmers and other vulnerable asset owners.” – Ben Qin, Head of North Asia and Australia at Descartes Underwriting.