Special Episode: Being everywhere multiple times a day with Stephen Lathrope, Global Head of Insurance, ICEYE
April 22, 2022
Wow.
Wow is not a word we use very much in insurance. But this special episode is full of moments where the perfectly logical response is to say “Wow!”
For instance:
Did you know the insurance industry had a fast-growing fleet of private satellites at its disposal, capable of giving 100% global coverage? Wow.
Did you know those satellites can see in the dark and through cloud, smoke and dust? Wow.
Did you know they orbit the earth multiple times a day, giving you near real-time information and they can also make incredibly accurate measurements down to the millimetre? Wow.
Did you know that the physical and intellectual property behind this network has been developed and is owned by ICEYE itself? Wow.
Over the past couple of decades we have become used to applying satellite imagery in property insurance. We also all knew that satellite technology had come a long way because of miniaturisation and a massive reduction in cost.
But until now I don’t think we had realised quite how far things had progressed and what possibilities this could open up for the insurance sector.
Today I am talking to Global Head of Insurance Stephen Lathrope about micro-satellite and data and insurance insights and solutions business ICEYE and its plans for the industry.
A few minutes into our chat and it is clear that the applications for this new tech are almost limitless and ICEYE has only just begun scratching the surface of what is possible.
Persistent monitoring of static objects is one clear application and the use cases for flood and many parametric covers also stand out. Windstorm, wildfire, hail and tsunami are also on the list.
But it quickly emerges that it is the blending of ICEYE’s extraordinary satellite data with other data sources, forecasts, maps and models that is going to add the most value.
That’s where you come in. It’s fairly obvious from a listen that I really enjoyed my time chatting to Stephen.
So I think you should Listen to the podcast for the sheer pleasure of it and let some of the wow moments sink in.
Then in time let all the ideas for new products percolate up to the surface and then get in touch with ICEYE and tell them how you would use their technology.
Because the final link in the chain is the insurance industry itself.
Enjoy the podcast.
NOTES AND LINKS
Learn more about ICEYE’s Solutions here, or download their latest Flood Briefings here
ICEYE has a webinar series starting soon, explaining the value of SAR Technology. Sign Up here
And any late 1970’s low-budget Brit Sci-Fi fans, just Google ‘Blake’s 7’ and see what Stephen and I were talking about!
