Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers.
The company helps insurers manage their global positions, combining space technology, big data, artificial intelligence (AI) and machine learning—in a service called REACT. With REACT, Skytek tracks both mobile and fixed assets around the world, in real-time, both before and after loss events, said Skytek’s chief executive officer, Dr. Sarah Bourke, in an interview with Carrier Management.
“We’re able to tell the insurance companies all the details about the vessels, such as their flag, their classification and society. We’re also able to give them a flavor of the voyages, so they’re able to see how many miles a vessel has sailed in a year, where did they go and what ports they called at.”
Dr. Sarah Bourke, Skytek