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INSURANCE

Enabling carriers and reinsurers to seamlessly integrate geospatial data into
their decision making

Solutions Case Study Partners


STREAMLINED DATA AND ANALYTICS


THE NEXT GEOSPATIAL DIGITAL TRANSFORMATION IN THE INSURANCE INDUSTRY

The insurance industry is experiencing a surge in growth opportunities as new
ways of integrating geospatial data into underwriting and claims processing are
increasing efficiency, faster payouts, and better customer service.

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.

Talk to us

EASY TO ACCESS, EASY TO USE GEOSPATIAL DATA

PROPERTY

FLOODING

CLIMATE

WILDFIRE

IMAGERY

WEATHER

TERRAIN

AND MORE...

ASCEND + IRIS


EXPLORE OUR SUITE OF PRODUCTS FOR THE INSURANCE INDUSTRY

Discover products that bring geospatial insights directly to the hands of
insurers.


ASCEND

A visualization engine built for insurers makes geospatial data and insights
accessible to all.

Learn more →


IRIS

InSAR based deformation monitoring enables insurers to monitor subsidence
trends. 

Learn more →

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.

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HARNESS EARTH OBSERVATION DATA TO REVOLUTIONIZE THE INSURANCE LIFECYCLE.

Talk to an expert to learn how you can easily access and use geospatial data.

Work with us
Descartes Labs


LET'S GET STARTED

Descartes Labs, Inc., and its wholly-owned government subsidiary, Descartes Labs
Government, Inc., solve the world's most complex problems through advanced
science. We offer customers an accelerated ability to address operational needs
by transforming the world's data into actionable and predictive insights that
impact climate change, sustainability, food security, and safeguard natural
resources at the speed of relevance. Our solutions offer unique advantages to
our customers that are grounded in an ever-expanding portfolio of dual-use
commercial products and capabilities which are enabled by our core
technology stack.


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