Enhanced Collaboration Will Enhance flood and Wildfire Event Response
Enhanced Collaboration Will Enhance flood and Wildfire Event Response
Aon Expands Data Licensing Agreement with Iceye
Professional services firm Aon has expanded its data licensing agreement with Iceye to include Flood Insights data globally and Wildfire Insights data for the US.
"In an increasingly volatile natural catastrophe environment characterized by increasing frequency, severity, and complexity, rapid access to damage and hazard data will be critical."
Stephen Lathrope, Iceye
Under the agreement, Aon will incorporate Iceye's near real-time flood and wildfire data into its event response capabilities for Reinsurance clients, to facilitate the loss analysis of catastrophic events. The high-resolution Insights data from Iceye allows Aon to provide clients with detailed location-level analysis on flood and wildfire insights into damage of properties.
Iceye's large constellation of NewSpace satellites provides access to a new level of persistent monitoring for any location on Earth, with synthetic aperture radar (SAR) technology delivering uninterrupted visibility, day and night, in any weather conditions and through smoke. Hazard and damage data is made available within hours of an event occurring with updated analysis provided at regular intervals as the flood or wildfire develops.
"In an increasingly volatile natural catastrophe environment characterized by increasing frequency, severity, and complexity, rapid access to damage and hazard data will be critical," said Stephen Lathrope, Senior VP for Solutions, Iceye. "At Iceye, we continue to expand our constellations and enhance our technology as we help shape the future of satellite-powered, data-driven disaster response."
"As climate risk further influences the behavior of weather events, Aon is committed to providing its clients with the most accurate and comprehensive catastrophe data and analytics," said Dan Dick, Global Head of Property Analytics for Reinsurance at Aon. "By integrating Iceye's Flood Insights and Wildfire Insights into our event response solutions, we can provide enhanced clarity and confidence around the immediate financial impact of catastrophic events as they develop, ultimately leading to better business decisions for our clients."
Iceye and Aon previously collaborated to provide insurers with flood hazard data following severe flooding events in Japan to help reduce volatility and better understand the post-event impact on their portfolios.