Earth Observation moves closer to the Forestry risk business

Our customers include leaders and innovators across the public and private sectors, including long-established and instantly familiar names, up-and-coming firms at the cutting edge of their fields, and numerous companies that have realized the tangible value of having a better, more contextualized, and more up-to-date understanding of the world around them.

As we count down the days until the scheduled launches of the EarthDaily Constellation, we are shining a spotlight on some of those customers who are working with EarthDaily Analytics in order to benefit from the game-changing power of EO Built for AI.

Today’s Customer in the Spotlight:

ForestRe is a global leader in specialist services for commercial forests and plantations. It provides insurance services for clients including independent forestry owners, commercial forest enterprises, timber merchants and saw log producers in partnership with Globe Underwriting.

The Challenge:

For decades, ForestRe has advised on risk management for the forestry, plantation and reforestation sector so that they can mitigate against fire risk.

With the rise of extreme weather events across the globe, landowners are having to deal with increases in risk and uncertainty. Rising global temperatures over the last decade are driving extreme climate events such as drought. In the forestry, plantation and reforestation sector, however, the most frequently insured natural hazard is fire. For those in the insurance industry, when assessing, understanding and pricing the risk of fire it is essential to gather quality data. Access to EO data allows for insurers to measure the impact and spread of fires, using satellites to map burn scars. It is easier to look at a managed plantation over the last 20 years and compare the rate of burn with that outside the plantation. Data can give plantation managers a clear idea of what investment is needed and where.

Prevention of uncontrolled wildfires is in large part about detecting small fires early when they ignite, so that they can be contained before they spread out of control. Different operations will have different means of detection, including high-tech and low-tech methods, but all approaches are heavily dependent upon the ability to get an accurate and up-to-date understanding of the circumstances.

How EDA is the Solution:

With deep expertise in the use of cutting edge earth observation and geoanalytics for the Forestry sector, EarthDaily Analytics is an ideal partner for ForestRe as part of the NADIR (NAtural hazard/DIsaster Risk and Assessment) Platform developed with ITEA4. Daily satellite monitoring of the Earth’s landmass enables better monitoring, management (simulation and operational planning), prediction and in some cases prevention of large-scale impact from natural disasters such as fires.

Additionally, AI will be used to develop predictive models to assign risk scores, as well as automated monitoring to alert when natural disasters begin to arise. AI will provide proactive intelligence through simulation and training.

Following the launch of the EarthDaily Constellation later this year, EDA will supercharge its service offering by pairing its existing deep expertise in agricultural analytics with a best-in-class combination of daily global coverage, purpose-built spectral diversity, and an AI-driven ground segment powered by AWS. With the power of Everywhere Everyday, EDA will ensure that ForestRe maintains its longstanding position at the cutting edge of the Forestry Insurance industry.

Are you interested in getting in on the ground floor of the Earth Observation revolution that is the EarthDaily Constellation?
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