As climate-related catastrophes become more frequent and severe, insurers and reinsurers are seeking new ways to access timely, reliable loss data. ICEYE, a provider of synthetic aperture radar (SAR) satellite solutions, is among the companies working to close the gap between event modeling and on-the-ground reality – offering a suite of catastrophe monitoring tools that are being adopted by insurers, reinsurers, and emergency agencies worldwide.
ICEYE’s recent launch of earthquake and fire-following change detection in California is part of its broader strategy to offer multi-peril solutions. “In the US market, we offer hurricane, wildfire, and flood solutions, and we wanted to add that final primary peril - earthquake,” explained Stephen Lathrope (pictured), SVP of solutions. The new solution leverages ICEYE’s growing satellite constellation, now at 54, which enables frequent revisits over areas of interest – sometimes 15 to 18 times per day. This high frequency of observation allows the company to deliver rapid damage detection and assessment at scale. “For Hurricane Milton, we delivered 10,500 square miles of damage impact data within 24 hours of landfall. So it’s speed and scale,” Lathrope noted.
The company’s approach is to provide a bridge between predictive models and ground-based assessments. “Typically, after a catastrophe, aerial drones and aircraft are eventually available to inspect the impact. But they can’t fly in the aftermath of a hurricane because of clouds, or at night. Our satellites use SAR, which can see through darkness, clouds, smoke, and even volcanic ash. This enables insurers to move from a predictive view to an observed view much faster,” said Lathrope.
ICEYE’s process begins with pre-imaging of high-risk areas, such as the US hurricane coastline, California, Japan, and parts of Australia. When an event occurs – whether predicted, like a hurricane, or sudden, like an earthquake - the company re-images the impacted area and delivers outcomes within 24 hours. “SAR is an active sensor, sending a signal and detecting the return, so no daylight is required. We use high-resolution imagery for fire-following elements and wide-angle views for overall event assessment,” Lathrope explained.
Machine learning is central to ICEYE’s ability to process large volumes of data. “All of our products are enabled by machine learning,” Lathrope said. “For example, we train the computer to recognize what a destroyed building looks like in different regions, since construction techniques differ. Our LA wildfires work proved our accuracy for fire, and events like Milton and Helene proved our accuracy for damage detection. Combining those capabilities allowed us to move quickly to produce the earthquake solution.”
One of the company’s distinguishing features is its focus on delivering actionable information, rather than just satellite imagery. “We don’t sell satellite images; we use imagery alongside other data sources to deliver information products, such as flood depth or damage detection. For floods, we update the extent every six or seven hours as part of our hurricane package, giving clients a dynamic view,” Lathrope said. This is intended to meet the needs of insurers, who often lack the resources to interpret raw SAR data.
ICEYE’s technology is being used not only for event response but also for resilience planning. “We’re trying to play a part in improving the resilience of communities, businesses, and insured customers,” Lathrope said. “We serve civil emergency response agencies – FEMA in the US, NEMA in Australia – and, increasingly, our customers are using our data not just to respond to events, but to learn from them and build resilience for the future.” Insurers are also using ICEYE’s data to refine their loss and damage curves, making them more aware of the true cost of increasingly frequent and severe events.
Despite these advances, Lathrope acknowledges that there are challenges. “SAR data is complex, and integrating it with other data sources and workflows is an ongoing process. The technology is evolving quickly, but there are limits to what satellite-based assessment can do, especially in areas with limited pre-imaging or where ground truthing is difficult.” ICEYE is also cautious about the pace of expansion, focusing on building robust, high-resolution capabilities and learning from each deployment before adding new perils or geographies.
Looking ahead, ICEYE plans to expand its solutions to more countries and, in time, to additional perils. Recent expansions have included Thailand and Taiwan, and the company has reported on major flood events in Latin America. “Our more recent generations of satellites are increasingly high resolution, and our team is learning what the technology can do. We like not to predict too much what we’ll do next, in case we do something else,” Lathrope said.
As the insurance industry continues to adapt to a changing risk landscape, ICEYE and other satellite data providers are likely to play an increasingly important role in bridging the gap between models, real-time observation, and actionable intelligence. The challenge will be to ensure that this technology is integrated effectively and used to support both rapid response and long-term resilience.
