Past Presentation - OPERA Online ZOOM Presentation - 'Space Based Risk Measurement and Monitoring – Applications for the Engineered Insurance Sector'
Speaker: Reijo Pold of Sille Space
Presentation synopsis:
Sille.Space delivers space-based risk measurement and monitoring. – The technological step in this industry application, is comparable to shifting from an analogue phone in the 80’s to Skype.
Deformation monitoring is largely performed manually today by engineers who must go on-site to for example a dam or mine and depending on the size of the asset and area, spend a few days, a week or longer, measuring levels of deformation by hand. This is costly and even more so if the area that needs to be assessed is e.g. 1km2, 10km2 or 100km2. - Sille.Space provides an assessment in a day, with a six-year historical deformation overview, from space, 100% remotely whilst delivering the assessment much more cost efficiently.
The team that built Sille.Space (Datel Group) has 30 years’ experience in developing geographic information systems and is one of few companies in Europe that is certified according to NATO’s Quality Assurance Standard AQAP 2110.
Sille.Space uses satellites in orbit to detect deformation of assets, the technology finds unnoticed, hidden deformation that can be used in the underwriting process to accurately assess the risk of assets such as: Mines, Dams and Production plants, although the spectrum of assets that can be analyzed is much wider. The result of applying Sille.Space delivers the following to its users:
Underwriters can take a bigger line
More confidence in decision making and negotiations, quicker
Write more premium: No access to site or engineers at location, conduct the survey remotely
Loss Prevention
The above value has been proven at Lloyd’s Lab and Sille.Space has since received rapid traction in the insurance industry with 27 assessments delivered and high-volume assessments ranging from 500 – 90,000 assessments.
The presentation will cover the inputs, outputs, and case-studies of how the technology is applied as well as a demonstration of the system.
Reijo’s presentation is available via the members area of the OPERA website for current members only.