Aon expands partnership with ICEYE

Aon expands partnership with ICEYE | Insurance Business America

Catastrophe & Flood

Aon expands partnership with ICEYE

Data integrated into event response solutions

Catastrophe & Flood

By
Terry Gangcuangco

Disaster management intelligence firm ICEYE has announced an expanded data licensing agreement with broking giant Aon to now include ICEYE’s global Flood Insights data and US Wildfire Insights data.

The widened collaboration will enable Aon to integrate ICEYE’s real-time flood and wildfire data into its catastrophe response services for reinsurance clients. The high-resolution insights offered by ICEYE allow Aon to deliver detailed, property-level analysis of damage caused by floods and wildfires, enhancing the ability to evaluate the financial impact of these disasters.

ICEYE operates a large constellation of NewSpace satellites, equipped with synthetic aperture radar (SAR) technology, which provides constant monitoring of locations worldwide. This technology ensures uninterrupted visibility, regardless of weather, lighting conditions, or smoke, and delivers hazard and damage data within hours of an event along with regular updates.

Stephen Lathrope, senior vice president for solutions at ICEYE, stated: “ICEYE is delighted to be expanding its data agreement with Aon and building on the success of the solutions we have supported.

“In an increasingly volatile natural catastrophe environment characterized by increasing frequency, severity, and complexity, rapid access to damage and hazard data will be critical. At ICEYE, we continue to expand our constellations and enhance our technology as we help shape the future of satellite-powered, data-driven disaster response.”

ICEYE and Aon previously worked together on flood hazard data following major flooding in Japan.

Dan Dick, global head of property analytics for reinsurance at Aon, commented on the expansion: “As climate risk further influences the behavior of weather events, Aon is committed to providing its clients with the most accurate and comprehensive catastrophe data and analytics.

“By integrating ICEYE’s Flood Insights and Wildfire Insights into our event response solutions, we can provide enhanced clarity and confidence around the immediate financial impact of catastrophic events as they develop, ultimately leading to better business decisions for our clients.”

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