The company’s Flood Early Warning system provides insurers with a four-day advance prediction of potential flood impacts. Credit: Phillip Flores/Unsplash.

ICEYE has introduced satellite-based solutions designed to enhance flood life cycle management for the UK insurance industry.  

The company’s Flood Early Warning system provides insurers with a four-day advance prediction of potential flood impacts at a building-level resolution.  

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This tool integrates with UK environmental agencies’ flood hazard zones to offer actionable insights. 

ICEYE’s Flood Rapid Impact solution delivers satellite-derived flood extent maps within 12 hours from the onset of flooding, with updates every eight to 12 hours.  

These solutions are powered by synthetic aperture radar sensors on ICEYE’s satellite constellation, enabling tracking of floods regardless of weather conditions or time of day. 

Together, these solutions aim to empower insurers to monitor and predict flood risks at specific locations within their portfolios.  

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This capability allows for proactive measures such as deploying flood prevention strategies through supply chains and issuing targeted communications to customers to encourage protective actions. 

ICEYE vice-president of insurance solutions Rupert Bidwell said: “We believe ICEYE’s Flood Early Warning and Flood Rapid Impact will be transformational in the way insurers can handle floods in the UK. Flood information before and during the event can be incomplete, as it is reliant on weather forecasts, models, and media – what we are providing is unique, it is the live tracking of the flood using our satellite constellation.  

“It means insurers can be ahead of the water and deploy resources to prevent and mitigate flood damage, and proactively support and communicate with their policyholders and with communities, and ultimately reduce the rising cost and impact of floods.” 

Last month, Juniper Re, a division of BRP Group, entered into a partnership with ICEYE.  

This collaboration aims to strengthen Juniper Re’s portfolio by providing access to near-real-time data on large-scale disasters including floods and wildfires, enhancing their reinsurance broking services.