VAE > Project
Main Aims / Objectives
Risk assessment claims adjustment and extreme weather event modelling for the insurance and reinsurance industry. This requires a wide range of satellite EO products and services: InSAR ground motion, met-ocean observations, flood mapping, high resolution urban change detection etc.
These services are produced and validated based on recent historical events that had high economical impact on the insurance sector (Hurricane Ike in the USA in September 2008, UK floods of summer 2007, etc. ).
The prospects for these services are assessed for the insurance sector with Thomas Miller (market leader in Transport insurance) and Lloyd’s (the world’s leading insurance market). Thomas Miller is a leader in the use of IT ans is very well placed to assess cost benefit of introducing new methods in the insurance domain. Lloyd’s have a particular interest in understanding the impacts of climate change within this business. Both these companies are linked to international insurance association (e.g. the Lighthill risk network, the TT Club, etc.) as well as in-sector catastrophe modelling specialist (e.g. RMS).
Technical Officer: Ola Gråbak
Starting Date: 2009-02-20
Logica as supplier - prime
X~Met Limited as supplier - sub
Fugro NPA Ltd. as supplier - sub
Starr Underwriting Agents Limited as user - partner/collaborator
Jubilee Insurance as user - partner/collaborator
Hiscox as user - partner/collaborator
Ascot Underwriting Ltd as user - partner/collaborator
Lloyds as user - partner/collaborator
Thomas Miller & Co. Ltd as user - partner/collaborator