ICEYE proclaims beta launch of wildfire knowledge product

ICEYE, a supplier of pure disaster insights, has introduced the beta launch of its Wildfire Insights product.

ICEYE Wildfire makes use of synthetic intelligence and machine studying to offer building-level impression knowledge for wildfires in close to actual time primarily based on satellite tv for pc imagery. The product captures knowledge for any wildfire that impacted communities all through the US, ICEYE stated.

As a part of the beta section, ICEYE will invite sure insurers to take part in closing performance testing previous to the product’s deliberate general-availability launch within the third quarter.

ICEYE Wildfire Insights features a monitoring software for all ongoing wildfires throughout the nation, the corporate stated. When a wildfire exceeds a given threshold primarily based on measurement and proximity to a group, ICEYE begins to seize satellite tv for pc imagery, which is then overlaid with constructing footprints and analyzed to point which buildings have been destroyed and which haven’t been broken by the hearth.

The hazard info is supplied to insurance coverage corporations inside 24 hours of the preliminary evaluation, and at 24-hour intervals till the wildfire ceases to impression further buildings, ICEYE stated.

ICEYE’s Artificial-Aperture Radar (SAR) satellite tv for pc constellation can monitor occasions on the bottom no matter atmospheric situations, the corporate stated. The satellites can generate high-resolution imagery by way of clouds, at evening – and thru smoke.

ICEYE stated its Wildfire Insights product will inform the allocation and deployment of discipline adjusters for extra environment friendly and efficient occasion response, permitting them to course of and pay wildfire claims quicker.

“Wildfire occasions are quickly increasing in severity and frequency throughout the US,” stated Penelope KourKouli, ICEYE Wildfire Perception product supervisor. “Insurers battle to reply as a result of they don’t have actionable insured constructing injury knowledge in a well timed, dependable method. Conventional strategies to achieve this important info typically take a number of days, if not weeks. The ICEYE Wildfire Insights product permits customers to entry ground-level hazard knowledge for wildfire occasions within the US inside hours of the injury from the occasion.

“By means of our SAY constellation and knowledge evaluation capabilities, we offer a degree of hazard perception, and in timeframes, that weren’t beforehand potential. This can be a important growth within the evolution of how the business addresses the rising wildfire peril, and we’re excited to work with insurers through the beta-testing section forward of our launch.”

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