Aon partners with ICEYE to access global flood and US wildfire data

Aon and ICEYE have expanded their partnership with the broking giant licensing the satellite data firm’s global flood insights and US wildfire data.

The agreement will see Aon incorporate ICEYE’s near real-time flood and wildfire data into its event response capabilities for reinsurance clients.

The two companies previously partnered in 2021 to launch a product to enhance insurers’ capabilities when assessing flood impacts in Japan.

Under the latest agreement, Aon will utilise high-resolution data from ICEYE to provide clients with detailed location-level flood and wildfire insights on damaged properties.

ICEYE operates a constellation of satellites which allows it to monitor any location on Earth, using synthetic aperture radar technology to enhance visibility.

Under the agreement, hazard and damage data will be made available within hours of an event occurring with updated analysis provided at regular intervals as the flood or wildfire develops.

Dan Dick, global head of property analytics for reinsurance at Aon, said: “As climate risk further influences the behaviour of weather events, Aon is committed to providing its clients with the most accurate and comprehensive catastrophe data and analytics.

“By integrating ICEYE’s flood insights and wildfire insights into our event response solutions, we can provide enhanced clarity and confidence around the immediate financial impact of catastrophic events as they develop, ultimately leading to better business decisions for our clients.”

Stephen Lathrope, senior vice president for solutions at ICEYE, added: “ICEYE is delighted to be expanding its data agreement with Aon and building on the success of the solutions we have supported.

“In an increasingly volatile natural catastrophe environment characterised by increasing frequency, severity, and complexity, rapid access to damage and hazard data will be critical. At ICEYE, we continue to expand our constellations and enhance our technology as we help shape the future of satellite-powered, data-driven disaster response.”