Innovations in remote-sensing from space are transforming how we conduct business on earth. From modeling to claims, satellite technology can identify losses—even before they happen. Insurers and reinsurers are realizing the advantages of remote sensing and partnering with satellite operators and other providers to more accurately assess and mitigate risk for clients.
In a recent article published in Leader’s Edge Magazine, Richard La Gala, VP, Director of Risk Control Service Transformation – Sompo Global Risk Control, shared that that Sompo International is building ecosystems that use available remote-sensing technologies, including both satellite-captured and local terrestrial-network captured data, to provide a more precise understanding of risk. “Working with risk-control specialists and Sompo Digital Labs as an R&D platform, we help our clients understand what sensor technologies can do and find ways to maximize the technology to improve their own risk-management efforts and reduce risk,” La Gala says. On the underwriting side, these efforts are leveraged to help reduce book exposures and improve insurance products and pricing.”