Iceye tracked flooding due to Hurricane Idalia in September 2023 in the Southeast U.S. Photo: Iceye

Finnish satellite company Iceye has a new data collaboration with reinsurance broking arm Juniper Re for Iceye’s Flood and Wildfire Insights data. Iceye announced the new, multi-year agreement on April 25. Terms of the deal were not disclosed. 

Iceye, which recently raised $93 million in funding, operates a constellation of synthetic aperture radar (SAR) satellites. Iceye’s Flood and Wildfire Insights data will give Juniper Re’s carrier clients near real-time data on large-scale events to determine the impact within hours. The companies said it will allow clients to respond to natural disasters accurately and quickly. 

“Iceye’s ground-breaking technology is a game changer for persistent monitoring and actionable insights,” said Adam Miron, head of Catastrophe Analytics for Juniper Re. “The ability to identify specific risks and ground-truth damage at scale, no matter the condition, in near real-time is revolutionary. Damage can be understood in hours as opposed to days, allowing our clients to quickly understand the impact of an event and promptly undertake loss mitigation steps.”

Iceye has a similar flood monitoring deal with reinsurance provider Swiss Re.