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Utilities
In a significant advancement in disaster management, ICEYE has launched a cutting-edge hurricane data solution designed specifically for the US market. This innovative solution is poised to revolutionize how insurers and responders handle hurricane impacts by providing crucial damage assessments within 24 hours of a hurricane making landfall. Leveraging the power of high-resolution satellite imagery and synthetic aperture radar (SAR) technology, ICEYE's solution offers unparalleled insights into both wind and flood damage.
The solution integrates high-resolution satellite imagery, ground-based data sensors, and auxiliary information to deliver comprehensive insights into the extent of hurricane damage. It covers vast geographic areas, often spanning tens of thousands of square miles, and identifies areas of significant neighborhood and building impact along the hurricane's track. The use of SAR technology ensures continuous monitoring through cloud cover and darkness, enabling real-time damage assessments that are crucial for rapid response efforts.
One of the most compelling aspects of ICEYE's solution is its ability to provide instant access to actionable data. This allows insurers and responders to gain a comprehensive view of hurricane impacts well ahead of traditional information sources. They can quickly identify the most severely affected customers, pinpoint areas with large loss concentrations, and strategically deploy field resources. This rapid situational awareness is transformative for claims triage and resolution processes.
ICEYE's data solution supports several key benefits for insurers and emergency responders:
Enhanced Claims Processing: By quickly identifying complex claims that involve both wind and flood damage, insurers can streamline claims triage and allocate adjusters more effectively.
Improved Customer Experience: Faster and more accurate damage assessments enable insurers to provide support more effectively, improving customer satisfaction during critical times.
Parametric Insurance Potential: The high-resolution data could also serve as a parametric trigger, enabling automatic payouts based on actual damage rather than modeled estimates.
Resource Optimization: Insurers can deploy resources more strategically by identifying areas of high loss concentrations early on.
ICEYE's Hurricane Solution includes two primary data products:
Rapid Impact Heat Map: This tool provides a 30m raster heatmap with damage scores for each cell, along with a 500m vector Hex Grid that aggregates damage scores to give a holistic view of the event impact at the neighborhood level.
Flood Insights: Offers flood extent and depth vector and raster files, representing the total observed flooding across the duration of the event.
These datasets allow users to visualize damage at both neighborhood and individual building levels, complete with detailed flood depth measurements in inches.
ICEYE offers flexible data access options tailored to customer needs. Users can view the data through an ArcGIS viewer, requiring no additional setup, or access the complete dataset via API or Docsend.
The launch of this solution marks a significant step in enhancing disaster response capabilities. By integrating AI technology, as seen in ICEYE's recent partnership with SATIM, the potential for rapid and reliable damage assessments could expand further. This collaboration aims to develop AI-powered SAR imagery analysis products for detecting and classifying various objects such as vessels, aircraft, and land vehicles.
ICEYE's new hurricane data solution is poised to reshape the insurance industry's approach to hurricane response. With its real-time damage assessments and comprehensive data insights, it offers insurers and responders a powerful tool for managing the complexities of hurricane impacts more effectively than ever before.
