Skyline Partners is working with Spire Global to develop new parametric risk transfer tools to help close coverage gaps in the marine, aviation and agricultural sectors.

From the ultimate vantage point of space, Spire collects previously unattainable knowledge and insights about the Earth and the human activity on and above its surface, such as detailed information on global shipping activity, including vessel locations and live port arrivals and departures. It garners real-time weather data from the entire planet, flight tracking data and other aviation intelligence and intelligence on climate variables, such as sea ice and soil moisture.

“The combination of computational power, enormous new sources of data and new risk transfer structures unconstrained by the traditional insurance model allows us to create and administer powerful new cover which breaks the boundaries of insurability,” said Skyline partner, Gethin Jones. “This new partnership with Spire will fuel the development of a range of innovative products which are currently difficult or impossible to insure adequately using conventional approaches.”

“Our mission is to deliver data and analytics which can only be collected from space, to protect our environment and our communities, transform global logistics, contribute to economic stability and put moonshot goals within reach,” added Mike Eilts, general manager of weather and earth intelligence at Spire. “There are significant potential applications for our data in the insurance sector that align with our mission and we’re excited to bring those applications to fruition through this new relationship with Skyline Partners for parametric.”

Image: Artist impression of Spire satellites in space, source: Skyline

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