ANT61 CEO, Mikhail Asavkin with Sompo Risk Management Inc. representatives. Photo: ANT61

ANT61, an Australian satellite hardware company, is targeting Japanese insurance market, signing a deal with Sompo Risk Management. Sompo Risk Management will integrate ANT61’s Beacon system into its existing suite of satellite risk management services and act as the main point of contact for Japanese satellite operators who are looking to procure and install Beacons on their satellites. ANT61 announced the deal on Dec. 16.

NT61 provides satellite-based solutions for risk management, asset monitoring, and data-driven decision-making. This collaboration allows Sompo Japan to enhance its insurance service offerings and help customers access real-time satellite data for  risk monitoring and decision-making. This distribution deal presents an opportunity for ANT61 to provide the Japanese market with satellite capabilities to mitigate the financial risk of satellite missions.

The Beacon, developed by ANT61, is an Australian-designed and manufactured satellite module for reliability assurance and risk mitigation that operates independently from the command and data handling system (CDHS). The module allows users to monitor satellite health, orbital parameters, and radiation effects.

“We are thrilled to partner with Sompo, a leader in the Japanese insurance market. This partnership is a key step in our strategy to expand into the APAC region and we are confident that the Beacon will provide Sompo’s clients with enhanced capabilities for managing risk, ensuring safety, and optimizing their operations,” Mikhail Asavkin, CEO of ANT61, said in a statement.