The collaboration brings ICEYE’s real-time natural disaster monitoring capabilities into Insurity’s geospatial analytics platform, providing insurers with timely data to improve response, aid policyholders, and reduce losses.
The partnership addresses the rising demand for accurate, immediate data amidst the growing frequency and severity of natural disasters.
With ICEYE’s SAR satellite constellation, Insurity’s platform now offers insurers detailed, real-time catastrophe insights for any global location, regardless of weather conditions or time of day.
This new integration will enable insurers to respond to disasters more efficiently, optimising resource allocation and delivering rapid support to impacted policyholders.
Insurity specialises in cloud-based solutions designed to support insurance carriers, brokers, and MGAs in streamlining their operations, specifically within property and casualty (P&C) insurance.
Its advanced platform enables insurers to leverage geospatial data for optimised decision-making, creating more agile and responsive services.
ICEYE, recognised worldwide for its persistent monitoring capabilities, utilises synthetic aperture radar technology to monitor natural disasters across the globe.
Its SAR satellite constellation can capture high-resolution imagery in nearly all weather conditions, ensuring that actionable data is always accessible.
By offering insurers a clearer view of disaster events as they unfold, ICEYE provides a critical solution for real-time catastrophe monitoring.
This collaboration aims to close a significant gap in the insurance industry, where delayed access to accurate catastrophe data can hinder efficient claims processing and response times.
With ICEYE’s data now integrated into Insurity’s platform, insurers gain the ability to incorporate geospatial data directly into their claims workflows. The result is faster, more accurate disaster response, benefitting both insurers and their policyholders.
Chris Lafond, chief executive officer at Insurity, noted the value of this collaboration, saying, “Our partnership with ICEYE reinforces Insurity’s commitment to delivering the most advanced data and analytics solutions to our P&C insurance customers. By integrating ICEYE’s real-time catastrophe insights into our platform, we’re enabling insurers to make faster, data-driven decisions that benefit policyholders when they need it most. This collaboration brings a new level of precision and responsiveness to disaster response in the insurance industry.”
Paul Barron, global head of partnerships at ICEYE, commented on the partnership’s alignment with ICEYE’s mission, adding, “Collaborating with Insurity enables us to extend our mission of delivering trusted, actionable insights that drive real impact. Insurity’s industry expertise and its expansive customer base allow us to deliver our solutions at scale, giving P&C insurers an unprecedented advantage in catastrophe response and policyholder service. Together, we’re setting a new standard for resilience in the face of natural disasters.”
By combining Insurity’s cloud-based analytics platform with ICEYE’s real-time catastrophe insights, this partnership is set to provide P&C insurers with unprecedented precision and speed in their disaster response efforts.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
