MAPFRE RE, a leading global reinsurer, has agreed with ICEYE, an expert in satellite-based disaster management solutions, to license its Flood Insights data globally. This collaboration is designed to enhance MAPFRE RE’s ability to respond swiftly and effectively to natural catastrophe events.

Through this agreement, MAPFRE RE will integrate ICEYE’s near-real-time flood data into its existing catastrophe event response framework. Access to this high-resolution damage information will enable MAPFRE RE to rapidly estimate losses and gain immediate situational awareness of financial impacts across its reinsurance portfolios. The data will also support critical communication with key stakeholders as the event unfolds.

ICEYE's synthetic aperture radar (SAR) satellite constellation provides detailed flood extent and building-level inundation data globally, often within hours of an event. This capability is especially valuable in regions such as Latin America, where access to near-real-time Earth observation data has traditionally been limited.

MAPFRE RE is also analyzing and evaluating the possibility of working with ICEYE's Hurricane Solution as part of its catastrophe event response. This solution, launched in March in anticipation of the U.S. hurricane season, provides an integrated view of wind and flood-related damage across the U.S. within 24 hours of landfall, identifying areas of impact along a hurricane's path.

Rupert Bidwell, VP Insurance Solutions, ICEYE, said: “Today’s announcement marks an exciting step forward in our data collaboration with MAPFRE RE. By integrating the full capabilities of our flood solution into their existing response infrastructure and demonstrating the potential of our hurricane product, we’re equipping their teams with the most current, high-resolution damage data available. This will empower MAPFRE RE to establish much greater control over the financial impact of catastrophe events much earlier in the response process.”

Miriam García, Manager of the Natural Perils Area at MAPFRE RE, commented, "At MAPFRE RE, we are committed to ensuring that our response to extreme weather events is grounded in rapid access to high-quality data. Our agreement with ICEYE will provide us a new level of hazard insight, heightening our situational awareness and enabling us to identify impact areas within hours and gain a clear understanding of the potential impact across our portfolios."

Click here to know more about ICEYE's SAR data