For non-life insurers, it's all about risk management. Especially in real estate. The sharper your visibility, the better you can minimise risks in your insured portfolio. Earth observation, analysing the built environment via satellite and aerial imagery, provides a powerful tool to do just that.
From image to risk profile
With up-to-date aerial and satellite images, we map what is going on at each insured property as well as in its immediate surroundings. Think about:
- Solar panels - Have they been placed since the policy started? What does that mean for fire risk or coverage?
- Trees - Are there tree branches hanging over roofs? What is the impact in case of storm or lightning damage?
- Buildings and surroundings - Is the property close to a high-risk element such as a petrol station or watercourse? How vulnerable is the site to explosion or flooding?
These objects are just examples. In principle, we can generate data on anything visible from above: dormers, outbuildings, yard paving, solar panels, chimneys, fences and more.
Detect changes. Avoid surprises.
Insurers often already have customer data. But how current and accurate is it?
Public sources such as BAG or land registers are often months or years behind and offer low completeness and accuracy.
With earth observation, we validate existing data, identify changes and fill in missing information.
This is how we detect:
- New risks not previously known
- Additional structures not (yet) insured
- Situations involving underinsurance
- Contaminated or outdated customer data in your systems
Monitoring at scale
NEO provides constantly updated information at both building and area level. With smart AI and image recognition, we monitor all objects and their surroundings. Automatically, scalably and reliably. So you get a grip on the risks within your entire portfolio.
What does it deliver?
- Insight in risks per object and area
- Validate and cleaning of customer data
- Detection of underinsurance and uncovered risks
- Ability to offer additional coverage
- Faster underwriting and more accurate premium setting
Every building in view. Every change monitored.
With earth observation, as a property and casualty insurer, you get a sharp view of where your risks really lie. And above all: where they arise. So you work proactively to minimise damage, improve your customer data and future-proof your portfolio.
Want to know more about how we monitor your customers and their environment? We'll show you. From the air. Down to the square metre.
Our domain specialist Erik Brunekreef is at your service, get in touch and discover the possibilities.