AXA Digital Business Platform, the “first of its kind” AI-powered integrated risk management system and the latest offshoot of AXA, has partnered with Earth imaging company Planet to track natural disasters such as earthquakes and hurricanes.
Designed to address the challenges of “multiple crises,” AXA DCP integrates advanced technology, extensive data, third-party software, artificial intelligence, and human expertise into a single AWS-based platform to support comprehensive risk management, including prediction and prevention.
Planet, meanwhile, is one of the world’s leading providers of satellite imagery and Earth data analytics and currently provides climate intelligence to a wide range of private clients, as well as major government agencies.
Founded by former NASA scientists, Planet operates the world’s largest commercial Earth imaging constellation, capturing multispectral images of the entire land surface almost every day.
Under the agreement, Planet will provide AXA DCP with near real-time data on extreme events.
The collaboration reportedly comes at a critical time, as increasingly interconnected risks are increasingly difficult to address in isolation and more challenging to manage overall.
Pierre du Rostu, CEO of AXA DCP, commented: “Natural disasters are now an ever-present danger, made even more severe by the climate crisis.
“In times like this, we want to do deals with companies that can provide us with the high-quality climate intelligence we need to better understand and respond quickly to events like this, and to anticipate them where possible and enable our customers to take preventive or avoidance measures.
“Planet’s data and insights will greatly enhance our ability to do this. We are excited to bring this data and our internal expertise together to support our clients and the rest of society. This is the future of insurance.”
Will Marshall, CEO and co-founder of Planet, said: “We are delighted to be partnering with AXA. This will integrate satellite data into AXA’s digital platform to enable smarter claims monitoring.
“As extreme weather events increase in scale and frequency, real-time information is critical for intelligent response.
“This partnership provides AXA’s customers with the objective data they need to respond to environmental fluctuations and protect communities.”
In related news, AXA DCP recently struck a deal with ICEYE, the manufacturer and operator of the world’s largest synthetic aperture radar microsatellite constellation, allowing it to track floods, wildfires, hurricanes and other extreme weather events with what the company says is “unprecedented” accuracy.
