Juniper Re, the reinsurance broking arm of BRP Group, has announced a partnership with ICEYE, a provider of satellite-powered disaster management solutions.
The collaboration aims to bolster Juniper Re’s portfolio, enabling access to near real-time observed data on large-scale disasters such as floods and wildfires.
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With access to ICEYE’s data on hazard and damage, Juniper Re’s clients are expected to be able to respond to disasters quickly and accurately, enhancing their decision-making and risk management capabilities.
ICEYE operates a constellation of synthetic aperture radar satellites, which provides the insurance sector with persistent monitoring capabilities.
The actionable Earth observation data obtained from these satellites is said to offer uninterrupted visibility of any location on Earth, regardless of weather conditions or time of day.
Juniper Re head of catastrophe analytics Adam Miron said: “ICEYE’s ground-breaking technology is a game changer for persistent monitoring and actionable insights. The ability to identify specific risks and ground-truth damage at scale, no matter the condition, in near real time is revolutionary.
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By GlobalData“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.”
ICEYE head of insurance for Americas Kurt Jackson said: “We are delighted to collaborate with Juniper Re and support the development of leading-edge data solutions.
“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.”
Earlier in the month, Juniper Re also entered into a partnership with Canopy Weather, a weather analytics solutions provider.
This move was aimed at enhancing post-event storm response analytics for its clients by integrating Canopy’s technology and expert observations with its reinsurance solutions.
