AXA XL looks to the stars with SpaceAble partnership
AXA XL Insurance has established a global partnership with SpaceAble, a start-up specialising in space situational awareness (SSA) to better support satellite operators and organisations operating in space.
SpaceAble is based in France and enhances operational safety in low earth orbit (LEO) through the collection and management of space-related data and modelling. The partnership gives AXA XL access to its suite of offerings, including ISSAN, a LEO data collection and secured web-based platform.
AXA XL said it will complement its own underwriting and risk management expertise to enhance its insurance solutions for satellite operators.
Chris Kunstadter, global head of space at AXA XL, cited industry reports that indicate commercial launch costs to LEO have been reduced by a factor of 20 in as many years. “This, combined with significant investment and development in smaller satellites, means that the LEO economy will continue to grow considerably over the next decade, making it a strategic area of focus for satellite operators and space insurers,” he predicted.
Denis Bousquet, global chief technical officer for space insurance at AXA XL, said: “In space, just as on earth, sophisticated risk management begins with quality data.”
Julien Cantegreil, chief executive officer of SpaceAble, added: “This collaboration will allow us to refine our offering and to co-develop new solutions for insurers and satellite operators.”
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