The partnership is driven by the shared goal of addressing the increasing challenges posed by flood risks, intensified by climate change.
The initiative focuses on integrating Capella’s high-resolution Synthetic Aperture Radar (SAR) satellite data into Floodbase’s end-to-end parametric flood insurance solution. Parametric insurance is gaining significance as a vital tool in bolstering flood resilience, particularly in the face of inadequacies in traditional insurance models.
Floodbase, known for its multi-sensor fusion approach, will incorporate SAR imagery from Capella’s satellite constellation. This integration enables an advanced payout trigger certification system, offering detailed insights into the magnitude of flooding regardless of cloud cover.
The partnership’s innovative aspect lies in Floodbase’s use of Capella’s automated tasking API. This feature allows rapid tasking of SAR imagery, even in adverse conditions such as nighttime or cloud cover. This ensures the validation of flood maps and accurate assessment of flood magnitudes at specific locations.
The outcome is an enhanced capability to produce reliable, large-area flood maps under various weather conditions and at any time of day. Floodbase, as a certified Capella Analytics Partner, gains exclusive program benefits, including open access to Capella’s extensive imagery archive for research and development purposes.
In addition to technological advancements, the partnership is expected to facilitate product and sales collaboration. This will enable Floodbase to expand its analytical capabilities, enhance customer value, and accelerate product development. The collaboration represents a significant step in addressing evolving climate challenges and reshaping the landscape of flood insurance solutions.
Dan Getman, VP of Product at Capella Space, said: “The combination of Floodbase’s large-area parametric insurance solution with Capella’s high-resolution SAR imagery will unlock new parametric use cases to support at-risk communities during severe flooding events.”
Annbjørg Medhaug, Chief Product & Strategy Officer at Floodbase, also commented, saying that the parametric flood insurance solution resulting from this partnership would outshine competing solutions across a broad range of use cases and clients.
