ICEYE, a provider of SAR data and natural catastrophe analysis services, announced the launch of ICEYE Insights, a geospatial platform that allows insurance companies to combine ICEYE’s flood observation data and analysis with their property insurance information to understand the impact of a flood event and take action.
Using the EigenPrism catastrophe risk management tool, the ICEYE Insights platform is automatically updated with data and analysis from ICEYE’s Flood Insights product in near real-time following a flood event. The data includes high-resolution reporting of flood extent and measurement of depth required to assess the impact on individual buildings.
Insurers can upload details of their property portfolio via an API and instantly visualize and analyze a flood event’s impact on their personal and commercial insurance customers.
The capabilities provided by ICEYE Insights enable insurers to improve communication with customers, optimize the allocation of field resources, enhance triage of claims, identify opportunities to make provisional payments or early total loss settlement, estimate the cost damage to individual properties and their portfolio overall, and optimize their reserves, according to a company press release.
CoreLogic, a global property data and analytics-driven service provider, announced the launch of Discovery Platform, a cloud-based data exchange and property analytics ecosystem.
Discovery Platform is powered by an integrated property identifier, CoreLogic’s CLIP ID, and built on more than 50 years of data spanning 99.9% of U.S. properties. The platform enables businesses, including property and real estate technology, mortgage lenders, marketers and insurance firms, to discover, integrate, analyze, and model property insights to make critical business decisions faster.
CoreLogic’s combined data from public, contributory, and proprietary sources includes more than 4.5 billion records spanning more than 50 years, providing coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk, and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector.
Coalition, an active insurance company and a cyber insurance provider, announced a new multi-year partnership with Allianz to back its U.S. and U.K. cyber programs.
This new agreement provides Coalition with long-term committed capacity for its cyber insurance programs. Allianz will assume a share of all Coalition U.S. non-admitted cyber programs and lead Coalition’s U.K. cyber program when it launches later this year.
Coalition continues to expand its capacity relationships and cyber insurance business, according to a company press release. In March of 2022, Coalition’s run rate gross written premium reached nearly $740 million as the company scaled to serve more than 160,000 customers, the release said.
The Allianz Group is an insurer and asset manager with more than 126 million private and corporate customers in more than 70 countries. Allianz provides customers a range of personal and corporate insurance services, from property, life and health insurance to assistance services to credit insurance and global business insurance.
Sources: ICEYE, CoreLogic, Coalition