Develop highly competitive parametric insurance products and better manage claims from clients with frequent and reliable radar satellite data.
For insurance and reinsurance companies, the annual fluctuation of flood generated losses means risks that must be balanced with extremely high competitiveness in flood insurance products.
ICEYE Flood Extent & Persistence Index Solution provides near real-time monitoring of the flood-affected areas, regardless of clouds, weather and light conditions. This enables index insurance providers attain accurate flood extent and inundation information for processing claims from customers in case of flooding events. In addition, reliable persistence index of flood timing over the target areas ensures more precise update for your forecast models in accessing flood possibility.
Enhancing Parametric Flood Insurance Business with Actionable Radar Satellite Data
Read an introduction to the advantages and opportunities in using radar satellite data for parametric flood insurance
Blog: SAR Satellite Data Paves Way Towards New Parametric Flood Insurance Products
New radar satellite imaging technologies are ideal for developing highly competitive parametric insurance products to address flood events