Pre-Even Image: Satellite image dated August 22 nd, 2022 of the Casa Ybel Resort – Credits @AirbusSpace
Post-Event Image: Aerial image dated September 30th, 2022 of the Casa Ybel Resort – Credits @ NOAA
Pre/Post Event Analysis
In addition to conventional property losses, the insurance sector faces the challenge of accommodating Climate Risk within its business model. Flood, Extreme Heat, Wildfires, Earthquakes, Hurricanes, Tsunamis. Tornadoes and Drought, unleash potentially catastrophic events.
Using satellite imagery, we provide pre/post-event analysis to assess the extent of damage, verify the accuracy of claims and identify potential fraud. Our solution is used extensively in claim assessment for Property, Energy, Agriculture, Marine Hull, Marine War, Ports and terminals and Cargo insurance.
Natural Catastrophe Losses
Natural catastrophes, such as hurricanes and typhoons, can cause extensive property damage and destruction, These catastrophic events result in claims which cost the (re) insurance market billions of dollars each year.
Due to the scale of damage caused, it can often take many months to get an accurate estimate of the total cost of damage. Our Satellite Club enhanced solution quickly and accurately estimates the level of damage to residential and commercial properties in a region after a natural catastrophe.
Pre-event satellite imagery of Lahaina city on February 02nd, 2023 – Planet Labs
Post-event satellite imagery of Lahaina city, damage overlay on August 15th, 2023 – Digital Globe
