Finance & Insurance
Earth Observation data provides valuable data and insights that enhance risk assessment, decision-making, asset management, and overall operational efficiency for financial institutions.
Risk Assessment and Underwriting: Earth observation data, such as satellite imagery and aerial photography, can be used to assess the physical conditions of properties and infrastructure.
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The unprecedented insights unlocked by our constellation will enable our customers to make informed decisions with the magnitude of accuracy and efficiency unseen before.
Impact / Results
- Assess risk and inform premium pricing. E.g. analyze flood-prone areas, earthquake zones, or properties situated near industrial sites to accurately assess the level of risk, which, in turn, influences the insurance premium pricing and underwriting decisions.
- Insurers can verify the location and extent of damages caused by natural disasters, accidents, or other incidents, reducing fraudulent claims and ensuring quicker and fairer claims settlement.
- Having access to up-to-date satellite imagery and geospatial analytics helps lenders and insurers identify the extent of damage and estimate potential claims exposure, allowing them to respond rapidly and efficiently to such events.
- By analyzing location-based data, banks can evaluate the potential economic development and stability of an area, helping them identify viable investment opportunities and assess potential risks related to the development of specific projects.
- Utilizing change detection, financial institutions can identify suspicious activities and potential anomalies, allowing banks and insurance companies to take appropriate measures to mitigate fraud risks.
Offering customers the ability to extract and Exploring Analysis Ready Samples is an online tool that offers users a simple and efficient way to perform data access and transformation processes. By enabling users to subset data spatially, temporally, and by layer, the volume of data downloaded for analysis is greatly reduced.