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New System: RealWorld – Revolutionising Hurricane Season Loss Assessments

As the hurricane season intensifies this year, with predictions indicating an increase in both frequency and severity of storms, the need for rapid and accurate damage assessments has never been more critical.

Skytek, renowned for its legacy in the space industry, has stepped up to this challenge by introducing an innovative machine learning system designed to assist (re)insurance companies in obtaining swift and precise loss assessments following major wind storms. This advancement is set to transform the way insurers respond to natural disasters, ensuring more efficient and effective recovery efforts.

Skytek leverages its strong background in space technology and satellite data analysis to cover vast areas efficiently. The system evaluates actual damage, providing pre and post-event satellite imagery and damage estimates. Integrating seamlessly with existing modelling systems, Skytek’s solution addresses a key weakness in current modelling systems by offering (re)insurers actual damage assessments versus theoretical modelling damage.

Skytek can provide damage assessments in as little as two days post-event. All Skytek requires is the location of the properties or a region of interest. The technology ensures accurate and timely loss assessments by utilising advanced machine learning algorithms and high-resolution satellite imagery. Skytek’s heritage in space innovation, including collaborations with NASA and the European Space Agency, underpins the robustness and reliability of this system. This heritage enhances the overall effectiveness of (re)insurance operations after natural disasters, solidifying Skytek’s position as a leader in space technology and insurance solutions.

Pre-Event Hurricane Idalia Post-Event Hurricane Idalia

Detailed pre/post property damage analysis – Hurricane Idalia, September, 2023

20230202-Maui-pre 20230810-post-image

Planet Labs satellite imagery of Lahaina city, August, 2023

About Skytek

Skytek is a leading provider of intelligent software solutions for aerospace and critical industries. With a focus on innovation and collaboration, Skytek empowers professionals with intuitive and reliable tools to ensure safety, efficiency, and success in complex environments.

For media inquiries or further information, please contact:

Bruna Nunes

Marketing Communications Manager


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