The LiveEO Team
LiveEO analyzes satellite data using artificial intelligence to generate business insights for companies in a wide range of industries. As part of the InsurLab Germany Accelerator Batch#21, the company was able to work with SAS and the Ecclesia Group to define new use cases along the entire value chain of insurers, demonstrating the enormous potential for insurers in using satellite-based insights.
At SAS the focus was on risk analysis and loss detection after floods, where satellite data can significantly optimize risk assessment, insurance coverage and claims settlement both before and after catastrophic events. With the Ecclesia Group focused on identifying building features, such as solar panels, that can have a major impact on building value.
"InsurLab Germany and its excellent network have helped us to understand the insurers' problems in detail. This enables us to develop satellite-based solutions that offer maximum added value to the industry and ultimately benefit customers. Developments such as climate change also pose global challenges for the insurance world, which is why new, global data sources such as satellites are needed to proactively counter the risks."
Dennis Schmargon, Head of Business Development at LiveEO
"Working as a mentor with LiveEO was enriching in every respect, both in terms of content and personally. In the end, however, a good result that can be built on is important for everyone. In our case, this is an integrated showcase that combines data, analytics and the front end and demonstrates the many possible uses of satellite data in the value chain."
Michael Rabin, Advisor Insurance Innovation at SAS