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Key facts

Cohort: Cohort 7, 2021 

Focus in insurance value chain/workflow: Loss modelling & analytics I Claims   

Specific lines of business supported: Personal I Corporate I SME I Speciality I Reinsurance I Government 

Founded: 2014 

Status: Operating, still in insurance 

Company type: Data provider 

Head office: Finland 

Main global offices: Finland 

Locations served: Global 

Employee count: 201-500 


ICEYE uses its own constellation of synthetic aperture radar satellites to provide constant monitoring across the world, at any time and in any weather conditions. The company produces high water mark estimates within 24 hours of a flood, helping insurers to quickly estimate losses and improve the claims process. The company is also developing persistent monitoring solutions for wildfires and can support parametric insurance products. 

Lab activity

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: Improving claims process 

ICEYE worked in the Lab on a solution to help distinguish between damage caused by water and damage caused by wind from a tropical storm. It also got support in building its wildfire damage solution. 

​“Taking part in Lloyds Lab gave ICEYE superb exposure to the market and the opportunity to gain hugely valuable insight into the way in which market participants can get value from utilising our unique Nat Cat solutions. We’re finding continued involvement highly beneficial.”
Stephen Lathrope, Global Head of Insurance

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Learn about all our alumni who have take part in the Lloyd’s Lab Accelerator programme.