DIGITAL STRATEGY
Within each of these insurance lines , there are multiple individual use-cases such as risk assessment , fraud detection and claims handling that can be supported using aerial and satellite technology .
Robert Kozikowski , Co-founder and CPO at Tensorflight , a Polish-American insurtech that uses satellite imagery and AI to provide insights into the physical characteristics and risk profiles of buildings on the ground , elaborates : “ With satellite imagery , we can evaluate every global structure , gather building-related information ( such as building dimensions , construction type , nearby vegetation , and potential hazards ) and detect changes to properties .
“ This includes damage analysis following natural disasters , such as hurricanes and within conflict zones , where on-theground inspections are impossible and other sources of imaging are unable to provide the level of detail required for the insurance process . We also operate in the agricultural space and use satellite imagery to monitor crop health and forecast potential crop damage .”
The technology is currently used to analyse risk and adjust for loss once a claim has occurred , with Costello noting that it is weighted toward one more than the other : “ Currently , the emphasis seems more on risk analysis as it helps in proactive
52 December 2023