Property Insurance
Combining technologies and data analytics to provide a unique view of your global property portfolio
Pre-Event Image: August 22 nd, 2022 of the Casa Ybel Resort – Credits @AirbusSpace
Post-Event Image: September 30th, 2022 of the Casa Ybel Resort – Credits @ NOAA
Pre/Post Event Analysis
In addition to conventional property losses, the insurance sector faces the challenge of accommodating Climate Risk within its business model. Flood, Extreme Heat, Wildfires, Earthquakes, Hurricanes, Tsunamis. Tornadoes and Drought, unleashing potentially catastrophic events.
Using satellite imagery, we provide pre/post event analysis to assess the extent of damage, verify the accuracy of claims and identify potential fraud.
Natural Catastrophe Losses
Natural catastrophes, such as hurricanes and typhoons, can cause extensive property damage and destruction, These catastrophic events result in claims which cost the (re) insurance market billions of dollars each year.
Due to the scale of damage caused, it can often take many months to get an accurate estimate of the total cost of damage. Our Satellite Club solution quickly and accurately estimate the level of damage to residential properties in a region after a natural catastrophe.
Planet Labs satellite imagery of Lahaina city on February 02nd, 2023
Digital Globe satellite imagery of Lahaina city, damage overlay on August 15th, 2023
Assess Underwriting Risks
The Satellite Club helps insurers assess risks for commercial property more accurately and make more informed underwriting decisions. Custom reports combine satellite imagery with analytics to provide a unique view of a property and its proximity to potential hazards.
Figure 1 – Kherson International Airport on February 28th, 2022
Figure 2 – March 15th
Figure 3 – March 24th