InsurTech Tensorflight to deploy Airbus’ satellite imagery for property insurance market

InsurTech Tensorflight, which uses AI technology, aerial and street view imagery to provide property data, has partnered with the Intelligence Business of Airbus Defence and Space, a global provider of geospatial data.

Tensorflight aims to automate the “slow and expensive process” of in-person property inspections and to help insurance companies evaluate commercial properties as part of the underwriting process. The InsurTech used three sources of imagery to do this: satellite, aerial and ground level.

The partnership will see Airbus’s latest optical 30cm resolution constellation, Pléiades Neo, be leverage to improve Tensorflight’s offering to the property insurance industry.

Pléiades Neo’s satellite imagery will be used to help Tensorflight gather building-related information and detect changes to properties. This ranges from information about roof condition and asbestos detection, to damage analysis and appraisal following natural disasters, such as hurricanes.

This also includes gathering data within conflict zones where on-the-ground inspections are unsafe or impossible, and other sources of imaging are unable to provide the level of detail required for the insurance process.

Jakub Dryjas, Acting CEO of Tensorflight, said, “Pléiades Neo will considerably enhance our monitoring capability and operational efficiency. Our mission is to make high quality data available to the insurance industry to enable informed, timely and accurate decisions. Integrating Pléiades Neo into our existing solutions will enable us to provide an unprecedented level of intelligence to our customers on a much broader scale and far more cost effectively.”

Tensorflight closed its Series A funding round last year, led by QBE Ventures.

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