. ICEYE runs the largest synthetic aperture radar (SAR) satellite network in the world, providing unparalleled access to useful Earth observation data.
The news follows on from the announcement that ICEYE secured US$93 million in its latest funding drive, which will be used to accelerate and enhance its portfolio of innovative data and subscription products.
The partnership focuses on sharing flood and wildfire data to enhance disaster response efforts.
Under the agreement, Juniper Re will use ICEYE’s Flood and Wildfire Insights data to aid its carrier clients in accessing near real-time data on significant events. This information will enable them to assess the impact of such events within hours and support more informed, data-driven decisions.
The partnership aligns with Juniper Re’s commitment to investing in cutting-edge solutions to better support its clients. Quick access to ICEYE’s hazard and damage data will allow Juniper Re’s clients to react swiftly and accurately to natural disasters, enhancing decision-making and ultimately improving their ability to handle losses.
Adam Miron, Head of Catastrophe Analytics at Juniper Re, praised the collaboration, stating, ““ICEYE’s ground-breaking technology is a game changer for persistent monitoring and actionable insights.”
He continued: “The ability to identify specific risks and ground-truth damage at scale, no matter the condition, in near real-time is revolutionary. Damage can be understood in hours as opposed to days, allowing our clients to quickly understand the impact of an event and promptly undertake loss mitigation steps.”
The collaboration is in line with Juniper Re’s investment in innovative solutions to enhance its ability to support clients. Rapid access to ICEYE’s hazard and damage data will enable Juniper Re’s clients to respond to natural disasters accurately and quickly, improving decision-making, and ultimately transforming their ability to manage the loss.
Kurt Jackson, Head of Insurance, Americas at ICEYE, also commented, saying: “We are delighted to collaborate with Juniper Re and support the development of leading-edge data solutions.
He added: “This collaboration aligns with ICEYE’s mission to get near real-time observed data into the hands of carriers and brokers following extreme weather events, enabling the industry to make better and faster decisions.”
