New Data Integration Aims to Revolutionise Catastrophe Management
ICEYE, a pioneer in satellite-powered disaster management solutions, and Aon, a leading global professional services firm, have announced a major expansion of their data licensing agreement. This new agreement will see Aon integrating ICEYE’s advanced Flood Insights data on a global scale and Wildfire Insights data specifically for the United States, significantly enhancing their event response capabilities for Reinsurance clients.
Transforming Disaster Response with Real-Time Insights
The expanded partnership will enable Aon to leverage ICEYE’s cutting-edge, near real-time flood and wildfire data to refine their event response processes. This integration promises to deliver precise, location-specific damage assessments for both floods and wildfires, enhancing the ability of Aon’s clients to analyse and manage the impacts of catastrophic events more effectively. ICEYE’s high-resolution Insights data will provide critical, actionable information to support robust risk management and response strategies.
ICEYE’s extensive constellation of NewSpace satellites offers an unprecedented level of continuous monitoring for any location worldwide. By leveraging synthetic aperture radar (SAR) technology, ICEYE guarantees continuous visibility, unaffected by weather, time of day, or smoke. The result is timely, detailed hazard and damage data that is updated regularly as events unfold, ensuring that clients have the most current information available.
Advancing Disaster Management through Innovation
Stephen Lathrope, Senior Vice President for Solutions at ICEYE, expressed his enthusiasm about the expanded agreement: “We are excited to extend our partnership with Aon and build on the success of our previous collaborations. In an era marked by increasingly frequent and severe natural disasters, rapid access to precise damage and hazard data is essential. Our ongoing efforts to expand our satellite constellations and enhance our technology are pivotal in shaping the future of satellite-powered, data-driven disaster management.”
Aon’s Commitment to Comprehensive Catastrophe Data
Dan Dick, Global Head of Property Analytics for Reinsurance at Aon, emphasised the significance of the expanded data integration: “As climate risk continues to influence the patterns of weather events, Aon remains dedicated to providing our clients with the most accurate and comprehensive catastrophe data. By incorporating ICEYE’s Flood Insights and Wildfire Insights into our event response solutions, we aim to offer enhanced clarity and confidence regarding the financial impacts of catastrophic events. This will enable our clients to make more informed business decisions.”
Building on Past Success and Future Goals
ICEYE and Aon’s previous collaboration successfully provided insurers with crucial flood hazard data following severe flooding events in Japan. This partnership has been instrumental in reducing volatility and improving the understanding of post-event impacts on insurance portfolios.
As ICEYE and Aon continue to advance their disaster management solutions, this expanded agreement represents a significant milestone in providing clients with actionable, up-to-date data. The partnership is set to enhance disaster response and risk management, marking a crucial step forward in the industry’s ability to address the challenges posed by natural catastrophes.
Commitment to Innovation
This broadened alliance between ICEYE and Aon highlights their dedication to advancing disaster management and risk evaluation. By combining state-of-the-art satellite technology with expert risk analysis, the two organisations are poised to make significant strides in improving responses to natural disasters and enhancing overall risk management strategies.