Aon has expanded its data licensing agreement to include ICEYE’s flood and wildfire insights data globally and in the US, respectively.
The agreement will incorporate ICEYE’s satellite-driven data into Aon’s event response capabilities for reinsurance clients, to aid in loss analysis surrounding catastrophic events.
The companies say Aon clients will also receive location-level analysis of flood and wildfire risks to properties, with regular updates on damage data as the hazards develop.
Dan Dick, global head of property analytics for Aon's Reinsurance Solutions, comments: “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.”
Stephen Lathrope, senior vice president for solutions at ICEYE, adds: “In an increasingly volatile natural catastrophe environment characterised by increasing frequency, 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.”
This marks Aon and ICEYE’s second collaboration after previously providing insurers with flood hazard data following Japan’s severe flooding events.
