Floodbase will integrate 24/7, all-weather synthetic aperture radar (SAR) data into its advanced parametric flood solution through the Capella Space Analytics Partner Program
Capella Space, an American space tech company with data and satellite solutions for government and commercial applications, announced a partnership with Floodbase, a data provider and reporting agent for parametric flood insurance, to bring high-resolution SAR satellite data to Floodbase’s end-to-end solution for parametric flood insurance. This partnership will enable enhanced payout trigger certification of parametric insurance products by capturing the magnitude of flooding at high resolution and regardless of cloud cover.
Flood risk is growing due to climate change and other factors. Traditional insurance alone cannot fill the gap, making parametric flood insurance a crucial tool for augmenting flood resilience. Floodbase leverages a variety of datasets to meet the growing needs of the parametric flood market, now enhancing their solution with best-in-class SAR imagery from Capella’s satellite constellation. Floodbase’s multi-sensor fusion approach allows the company to seamlessly add additional sensors for payout trigger certification to optimize policy design for clients. Leveraging Capella’s automated tasking API, Floodbase can quickly task SAR imagery when need at night or through cloudy conditions to validate flood maps and verify the magnitude of floods at specific locations. This will strengthen Floodbase’s ability to produce reliable, large-area flood maps, regardless of weather or time of day.
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