InsurEO: unlocking new insights into building risks and sustainability

Smart Geo Insights from above

Sectors such as insurance, finance, and real estate face growing challenges in risk management, climate adaptation, and sustainability. InsurEO, an ambitious project by GIM, is taking a significant step toward addressing these issues by delivering six innovative services based on Earth observation data.

 

The insurance and finance industries are under growing pressure to operate with greater efficiency and precision, particularly as climate change reshapes risk management. These challenges extend beyond immediate risk mitigation—they also demand active contributions to building a low-carbon, healthier society. Sustainable properties, healthier living conditions, and robust climate adaptation strategies are central to this transition.

Yet, achieving these goals is not without obstacles. Many organizations struggle with gaps in both qualitative and quantitative data, alongside a lack of advanced digital tools capable of meeting their needs.

Introducing InsurEO: Bridging the data gap

To bridge this gap, GIM is enhancing its flagship product, Belmap, with Earth observation-derived services. Belmap, an advanced 3D database, delivers detailed insights into all buildings across Belgium and neighboring countries. It provides the most accurate, comprehensive, and up-to-date property information in the Benelux region.

The InsurEO project is being co-funded by the European Space Agency (ESA) and Belspo (the Belgian Science Policy Office), whose support underscores the critical role  of Earth observation data and spatial intelligence in addressing today’s most pressing challenges.  The project will run from 2024 until 2026.

Advancing risk management through innovative data

InsurEO is enhancing Belmap with an intuitive web portal and six innovative services. These leverage Earth observation data (e.g., Sentinel satellites) and advanced technologies such as Geospatial AI to empower professionals in insurance and finance to assess and mitigate risks with unparalleled accuracy:

  • Flood risk: Provides historic and near real-time flood extent maps for comprehensive risk and impact assessments of insured portfolios.
  • Storm risk: Delivers data on trees and wind conditions, crucial for evaluating and preventing storm-related risks.
  • Change notification: Sends alerts about significant changes near properties, enabling proactive risk management.
  • Ground motion: Offers risk maps detailing drought-induced subsidence, landslides, seismic activity, and other property-related ground motions.
  • Environmental: Supplies land surface temperature and air quality maps (e.g., ozone, nitrogen dioxide, fine particles) for health-related risk assessments.
  • Sustainability: Provides insights into the sustainability profile of insured portfolios and the impacts of climate change, facilitating ESG (Environmental, Social, and Governance) reporting and monitoring.

Sustainable future

This platform will deliver substantial benefits, including improved efficiency, data quality, and granularity for insurers and financial professionals. These advancements transform the ability to assess and control portfolio risks. Moreover, the platform’s ESG reporting capabilities help organizations meet compliance standards while contributing to a more sustainable future.

For more information or to stay updated on the project’s progress, please contact the Belmap team.

 

Bruno De Lat

Product Manager Belmap at GIM

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