New space partnership highlights growing reach of insurance industry
Article published in Forbes Magazine on August 13, 2019 – By Elizabeth Howell
The article highlights the announcement of a new partnership between insurance analytics provider Concirrus and space-to-cloud analytics company Spire Global on Tues August 13, 2019.
Aerial view of Hoover Dam in Nevada from a plane on February 15, 2017. AFP/GETTY IMAGES
“So it’s no surprise that outside of the new Spire partnership, insurance companies and their providers are literally moving into space to provide better products. In a recent blog post, spatial intelligence company Otus Intel said such partnerships are particularly useful for natural disasters affecting a large swath of population, or monitoring large-scale infrastructure such as dams”
It is understood that these types of partnerships will become more common now as the insurance industry moves towards a more granular approach to assess potential risk going forward, with spatial intelligence becoming the norm rather than the exception.