A depiction of an Iceye SAR satellite taking an image through the fire and smoke of wildfires. Credit: Iceye

Iceye is making further inroads into the lucrative insurance market. Aon, a global professional services firm, has expanded its data licensing agreement to include Iceye’s Flood Insights data globally and Wildfire Insights data for the US. The two companies announced the deal, Sept. 4.

Aon will incorporate Iceye’s near real-time flood and wildfire data into its event response capabilities for Reinsurance clients, to facilitate the loss analysis of catastrophic events. The high-resolution Insights data from Iceye allows Aon to provide clients with detailed location-level analysis on flood and wildfire insights into damage of properties.

Iceye and Aon previously collaborated to provide insurers with flood hazard data following severe flooding events in Japan to help reduce volatility and better understand the post-event impact on their portfolios.

“As climate risk further influences the behavior 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,” Dan Dick, Global Head of Property Analytics for Reinsurance, Aon, said in a statement.