Liberty and ICEYE, the world leader in sovereign intelligence from space, announced the launch of a pioneering building-level parametric wildfire insurance solution. As wildfires increase in frequency and severity, impacting communities and driving significant economic losses, the need for faster, more responsive risk solutions has never been greater. Liberty’s remotely sensed parametric property wildfire solution enables a rapid response providing immediate access to liquidity when it is needed most. The solution is initially available in the US and Australia, where wildfire exposure is particularly high, but targeted to expand together with ICEYE’s product scope expansion.
At the core of the solution is ICEYE’s global constellation of Synthetic Aperture Radar (SAR) satellites, which provides continuous monitoring of wildfire-affected areas. These satellites capture high-resolution imagery through smoke, at night, and in all weather conditions, ensuring reliable and uninterrupted data collection. Following a wildfire event, SAR imagery is combined with detailed property footprint data and advanced automated machine learning algorithms to deliver an objective, building-level damage assessment. Each insured property is classified against predefined criteria as either “destroyed” or “undamaged,” with results that could be delivered within hours.
This transparent, binary approach eliminates the need for site visits, loss adjusters, or subjective assessments. Instead, it enables fast and consistent evaluations at the individual property level, triggering payout procedures within days when agreed parameters are met. Leveraging this technology, Liberty’s parametric wildfire cover offers scalable protection that complements traditional insurance. This solution is designed for a wide range of clients, including homeowner associations, residential communities, municipalities and public risk pools, as well as owners of critical infrastructure and (re)insurers with residential and commercial property portfolios seeking to reduce their wildfire exposure.
Jean-Christophe Garaix, Head of Parametrics & Agriculture at Liberty, said: “By pushing the boundaries of technology, we are delivering a new generation of parametric wildfire coverage that is faster, more responsive, and fully data driven. Our property wildfire cover is remotely sensed and designed to address the growing threat of wildfires, providing reliable protection alongside traditional insurance that allows for more efficient claims settlement.”
Anke Sielker, Head of Reinsurance Solutions at ICEYE, added: “We are delighted to be working with Liberty on this ground-breaking solution. Built on rapid and verifiable observation data from our SAR satellite constellation, this offering provides quick confirmation when agreed loss parameters are met. The result is fast, precise, and consistent damage assessments at the individual property level, and can be deployed in high-risk areas to support multi-asset portfolios or regional programs.”
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