New Type of Crop Insurance--Weather-Based

Via Farm Policy, here's the website of WeatherBill, which touts itself as a new type of crop insurance. I'm not clear how it works, but the leader used to work for Google so presumably it's based on better/faster access to data.   You do have to input some of the data from your crop insurance policy. And the policies are weather-specific: i.e., "rain on hay", "spring freeze", etc. Whether they can reinvent crop insurance, we'll see.