Microsatellite partnership to help Axa track fires, floods and hurricanes

Axa has announced that its Digital Commercial Platform (DCP) will partner with microsatellite constellation manufacturer and operator Iceye to monitor, predict and mitigate loss from extreme weather events.

Iceye’s fleet of synthetic aperture radio (SAR) microsatellites is the largest of its kind, with the firm saying the ultra-high resolution SAR data can be used to track hurricanes, floods and wildfires accurately through cloud, smoke and dust in near real time.

The SAR technology offers global coverage, frequent updates and high-resolution images down to approximately 25 centimetre accuracy.

The new data will be available through Axa’s Digital Commercial Platform, a tool the firm said offered artificial intelligence (AI)-powered risk solutions to threats including natural disasters, cybercrime, geopolitical shifts and more.

Axa said the partnership reflected a “wider shift in how the insurance sector is looking to earth observation technology to better predict and reduce loss”.

Best solutions available

Pierre du Rostu, chief executive of Axa DCP, said: “Our goal is to make use of the very best solutions available to move beyond response to prediction and prevention.

“Iceye is a world leader in monitoring natural catastrophes and provides the real-time insights our clients require even when it is dark, when there are clouds, when there is dust, smoke or volcanic ash.

“We are pleased to be able to combine our expertise with their proprietary data to support our clients and wider society. This is a clear reflection of our ongoing commitment to using state-of-the-art technology to transform insurance.”

Stephen Lathrope, senior vice president of solutions at Iceye, added: “Scaling access to Iceye’s advanced SAR technology through Axa DCP is a transformative step for the insurance and risk management sector.

“It enables organisations to harness cutting-edge innovation at scale, unlock new insights and fundamentally change how they prepare for, respond to, and recover from catastrophic events. Together, we are helping unlock new insights and strengthen catastrophe response strategies.”