Industries
Insurance
Reduce your risk by building advanced AI-based solutions to track natural catastrophes, increase your knowledge about your customers and simplify your claim management
Challenges
The value of earth observation for Insurance has been steadily growing over the last decade. The use cases that can benefit from it are more numerous than ever, but the industry still faces some challenges when using this technology:
Speed of information
Time is of the essence when it comes to insurance, and having a solution that delivers the right satellite data at the right moment is a challenge for most insurers.
Mixing geospatial data
The use of geospatial data with customer information is a complex process that requires a lot of time and resources, and needs a dedicated engineer most of the time.
The need for historical data
Most risk models are built over decades of information, something that is challenging with satellite imagery, since several of the most used solutions were launched recently.
De-risk your activities through satellite imagery
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SpaceSense enables you to build robust monitoring solutions based on satellite imagery and AI. Through our platform, we help you to better understand your customers’ risk and optimize your activities.
Access large datasets
Access numerous public geospatial data sources to include in your models
Understand your model
Use our feature engineering solution to grasp what goes into your model
Add your data
Mesh your proprietary data to build unique datasets in a matter of minutes
Deploy safely
Deploy your solution while being assured that SpaceSense’s modules will be resilient
CASE STUDY
Flood damage assessment using AI
Problem
Floods are one of the most common forms of natural catastrophe that insurers have to deal with. And unfortunately with climate change this is only increasing. This means that managing flood claims becomes more and more time consuming for insurers. It is for this reason that this European insurer came to us, in order to better assess flood damages on their insured assets.
Solution
This company worked with SpaceSense’s platform to build a solution that could detect flooded areas using Sentinel 1 Synthetic Aperture Radar (SAR) data. The use of SAR was extremely important to better see the water reflectance while also being able to get information with clouded weather. They then used that information to estimate the water level in areas where they had insured assets, thus already saving precious time in their claim assessment.
Result
As a result, they were able to reduce the claim management procedure by 31% and to increase overall customer satisfaction in the process.
Create a solution with a 12X in
ROI on time saved in your claim
operations
Additional insurance use cases
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Title use case 01
They used our data fusion module to create a dataset of hundreds of fields composed of Sentinel 1 & 2 data, crop type and significant event dates (like harvest and tilling).
Title use case 01
They used our data fusion module to create a dataset of hundreds of fields composed of Sentinel 1 & 2 data, crop type and significant event dates (like harvest and tilling).
