CyStellar TerraRisk Re

CyStellar TerraRisk Re is a cloud-based SaaS platform for insurers, reinsurers and brokers who need a consistent, location-level view of natural-hazard and climate risk for individual insured sites and whole portfolios. It combines satellite imagery with weather forecasts, environmental monitoring data and what CyStellar describes as hundreds of regional hazard models, covering perils such as earthquakes, floods, wildfires and tropical storms, with hazard datasets that include multiple return periods and climate change scenarios (RCPs). AI classifiers detect and classify objects and features in satellite images and track changes over time. In ESA's TerraRisk kick-start project the platform was described as using Sentinel-2 optical data for post-event loss estimates (including NDVI analysis for crop insurance and burn analysis after fires) and Sentinel-1 radar data for flood damage and land-subsidence analysis.

For catastrophe response, TerraRisk Re integrates data from the Copernicus Emergency Management Service to show the extent and severity of an unfolding event against the geographical distribution of insured policies, track the impact on insured assets and support remote damage assessment and claims, with claims functions that include before-and-after event analysis and fraud detection. The interface has separate policy and claims modules for buildings and agriculture. Further modules quantify environmental-impact indicators used in ESG assessments: eutrophication, deforestation, land-use change, land erosion, land subsidence and methane leakage. Users work in a web interface with customisable hazard maps, risk scores and reports, and the same risk insights are offered through CyStellar's Hazards, NatCat and Claims APIs. CyStellar states that its remote damage assessment can cut claims processing time by up to 70%.