Juniper Re and ICEYE partner on flood and wildfire data
Satellite-powered disaster management solutions provider ICEYE has launched a new data collaboration with reinsurance broking arm and indirect subsidiary of BRP Group Juniper Re.
Juniper Re will leverage ICEYE’s flood and wildfire insights data and access near real-time observed data on large-scale events to determine the impact within hours and support data-driven decisions.
The rapid access to ICEYE’s hazard and damage data will enable Juniper Re’s clients to respond to natural disasters more accurately and quickly. The collaboration forms part of Juniper Re’s strategy to enhance support by improving the decision-making and loss-management capabilities of its carrier clients.
ICEYE operates the world's largest constellation of synthetic aperture radar (SAR) satellites, offering access to actionable Earth observation data, according to the company. This provides the insurance sector with constant monitoring for any location on Earth, delivering uninterrupted visibility in various conditions.
Adam Miron, head of catastrophe analytics, Juniper Re, said: “ICEYE’s ground-breaking technology is a game changer for persistent monitoring and actionable insights. The ability to identify specific risks and ground-truth damage at scale, no matter the condition, in near real-time is revolutionary. Damage can be understood in hours as opposed to days, allowing our clients to quickly understand the impact of an event and promptly undertake loss mitigation steps.”
Kurt Jackson, head of insurance, Americas at ICEYE, said: “We are delighted to collaborate with Juniper Re and support the development of leading-edge data solutions. This collaboration aligns with ICEYE’s mission to get near real-time observed data into the hands of carriers and brokers following extreme weather events, enabling the industry to make better and faster decisions.”
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