ICEYE and Aon broaden partnership with global flood and US wildfire data agreement

ICEYE and Aon broaden partnership with global flood and US wildfire data agreement
by Clarence Oxford
Los Angeles CA (SPX) Sep 05, 2024

ICEYE, a leader in satellite-powered disaster management, has announced an expanded data licensing agreement with Aon, a global professional services firm. This partnership now includes ICEYE's Flood Insights data globally and Wildfire Insights data for the United States.

Through this agreement, Aon will integrate ICEYE's near real-time flood and wildfire data into its event response capabilities for Reinsurance clients, enhancing the analysis of catastrophic event losses. ICEYE's high-resolution data enables Aon to provide clients with detailed location-specific insights into flood and wildfire damage to properties.

ICEYE's extensive constellation of NewSpace satellites offers advanced monitoring capabilities for any location on Earth. Using synthetic aperture radar (SAR) technology, ICEYE provides continuous visibility, regardless of time, weather conditions, or smoke. Hazard and damage data are available within hours of an event, with regular updates as situations develop.

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."

Dan Dick, Global Head of Property Analytics for Reinsurance at Aon, added, "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."

Previously, ICEYE and Aon collaborated to deliver flood hazard data to insurers following significant flooding in Japan, helping to reduce volatility and better understand the impact on portfolios post-event.