This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred.
ICEYE, the provider of satellite data and services to inform decision-making and analysis, has unveiled its industry-first hurricane data impact solution that’s designed to provide insurers with near-instant visibility into wind and flood damage across the United States.
By delivering high-resolution impact data within 24 hours of landfall, the solution could significantly improve how insurers assess claims, allocate resources, and even potentially structure parametric insurance products in the future.
According to the announcement, ICEYE’s Hurricane Solution leverages a combination of advanced satellite imagery, ground-based sensors, and auxiliary data to capture a comprehensive picture of hurricane damage.
The system covers vast geographic areas, spanning tens of thousands of square miles, and can pinpoint areas of major neighbourhood and building impact along the hurricane’s track.
Additionally, ICEYE’s synthetic aperture radar (SAR) technology enables on-the-ground monitoring through cloud cover and day or night for continuous impact assessment.
Furthermore, the solution allows users to overlay property portfolio data for the impacted regions with a detailed heatmap that pinpoints neighborhood-level and individual building damage, along with a flood depth footprint measuring water levels in inches.
This level of precision suggests that the data could potentially be used as a parametric trigger, offering a real-time, objective measure to automatically initiate insurance payouts based on observed damage rather than modeled estimates.
Immediate access to this actionable data provides insurers with a comprehensive view of hurricane impacts well ahead of traditional sources. This will ultimately allow insurers to quickly identify the hardest-hit customers, pinpoint areas with high loss concentrations, and strategically deploy field resources.
As well as this, ICEYE noted that insurance carriers will be able to conduct rapid claims triage and immediately identify complex claims that combine wind and flood losses to inform adjuster allocation and help reduce costs.
Rupert Bidwell, Vice President of Insurance Solutions at ICEYE, commented: “Our Hurricane Solution offers insurers a completely new level of situational awareness as we head towards the 2025 hurricane season. Access to near real-time, large-scale damage data for both wind and flood within 24 hours of landfall can help supercharge every phase of the response from initial loss estimates to claims resolution.
“Ultimately, it helps insurers deliver an enhanced customer experience through more effective support, better claims triage, and faster settlement when they need it most. That’s truly game-changing.”
ICEYE launches hurricane solution that shows parametric potential was published by: www.Artemis.bm
Our catastrophe bond deal directory
Sign up for our free weekly email newsletter here.