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​Privateer Space

Key facts

Cohort: Cohort 8, 2022 

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

Specific lines of business supported: Corporate I Speciality  

Founded: 2021 

Status: Operating, still in insurance 

Company type: Data provider 

Head office: USA 

Main global offices: USA 

Locations served: Global 

Employee count: 11-100 


Privateer Space collects and processes data about the collision risk of satellites and debris for satellite operators. Its data can be used by insurers to understand the unique risks that debris and constellations pose to each other as well as for mission assurance and on-orbit satellite insurance. 

Lab activity

Primary way aimed to improve insurance processes and tools whilst in the AcceleratorNew sources of risk insight - data or models  

In the Accelerator, Privateer Space worked with underwriters offering space insurance products to understand specific risks and design insurance solutions for them. It evaluated different risk models and processes that could be improved with Privateer’s data and analytics. Eventually, it narrowed its focus onto mega-constellations being launched by established space operators, with a special focus on recently formed businesses registering their interest in launching large constellations, financed by debt from existing operations. The company worked with debt lenders to understand the type of coverage they will require for financing and with insurers to understand gaps in risk quantification. 

​“Lloyd’s Lab got Privateer mentored by the world leaders in the space insurance market and in 12 weeks we defined exquisite requirements to improve underwriting quality analysis for the orbital collision risk factor, a large and growing peril where the lack of predictive data held back carriers from writing coverage in the fast-growing lower earth orbit segments.”
​Andrew Grinalds, Vice President

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