Insurance
Enabling carriers and reinsurers to seamlessly integrate geospatial data into their decision making
Streamlined Data and Analytics
The Next Geospatial Digital Transformation in the Insurance Industry
Today’s most well known and widely used legacy insurance solutions were founded in the 1970s and 1980s; they pioneered the first digital transformation in insurance with digital databases in the 1990s.
The current, second wave of geospatial transformation is marked by breakthroughs in AI, machine learning, and the commercial space industry. Descartes Labs' solutions integrate massive amounts of geospatial data through robust ingest pipelines that make working with complex data faster and easier than ever before. Insurance carriers are armed with the latest, most accurate information for better decision-making.
Easy to access, easy to use geospatial data
Property
Flooding
Climate
Wildfire
Imagery
Weather
Terrain
and more...
Discover Ascend, a visualization engine built for insurers
Putting geospatial insights directly to the hands of insurers
Making Spatial Data Useful
Challenges
Barrier to Entry
There is an overwhelming amount of geospatial data and it requires unique expertise to be usable.
Legacy Systems
Data is advancing faster than insurance carriers can consume it due to a reliance on legacy systems.
Long Wait Times
Insurance carriers experience long wait times to access post-catastrophe data.
Multiple Contracts
Insurance carriers hold many contracts with many providers for underwriting and claims data.
Coverage Gaps
Insurance carriers experience coverage gaps and lack of granularity for underwriting data.
Poor Location Accuracy
Carriers’ property location data is often inaccurate making geospatial analysis difficult.
Solutions
Market Knowledge
We work with many providers and leverage state-of-the-art machine learning to recommend different solutions based on a carrier's unique needs.
Modern Technology for New Geospatial Data
Our tech stack enables us to work with a wide variety of modern data sources and formats.
Faster Data Access
We provide insurance carriers with empirical post-catastrophe data within 24-48 hours after data collection.
One Contract
We handle the data acquisition process to flow data from multiple sources, so carriers only need to handle a single contract—with us.
Full Coverage for Underwriting Data
We address data gaps and provide insurance carriers with the necessary data to make more informed underwriting and claims decisions.
Improved Location Accuracy
Geolocation services increase the location accuracy of a carrier's assets by at least 50%.
Industry Challenges
Industry Solutions
Barrier to Entry
There is an overwhelming amount of geospatial data and it requires unique expertise to be usable.
Market Knowledge
We work with many providers and leverage state-of-the-art machine learning to recommend different solutions based on a carrier's unique needs.
Legacy Systems
Data is advancing faster than insurance carriers can consume it due to a reliance on legacy systems.
Modern Technology for New Geospatial Data
Our tech stack enables us to work with a wide variety of modern data sources and formats.
Long Wait Times
Insurance carriers experience long wait times to access post-catastrophe data.
Faster Data Access
We provide insurance carriers with empirical post-catastrophe data within 24-48 hours after data collection.
Multiple Contracts
Insurance carriers hold many contracts with many providers for underwriting and claims data.
One Contract
We handle the data acquisition process to flow data from multiple sources, so carriers only need to handle a single contract—with us.
Coverage Gaps
Insurance carriers experience coverage gaps and lack of granularity for underwriting data.
Full Coverage for Underwriting Data
We address data gaps and provide insurance carriers with the necessary data to make more informed underwriting and claims decisions.
Poor Location Accuracy
Carriers’ property location data is often inaccurate making geospatial analysis difficult.
Improved Location Accuracy
Geolocation services increase the location accuracy of a carrier's assets by at least 50%.
Above: Original carrier policy location showed no flooding but the corrected geocoded location shows 0.92m of flooding. The blue layer is Iceye flood data from Hurricane Ian. The difference between the two locations was 114 meters. The problem was due to error in original geocoding which put location on road in front of building.
Harness earth observation data to revolutionize the insurance lifecycle.
Talk to an expert to learn how you can easily access and use geospatial data.