AXA Digital Commercial Platform, a ‘first-of-its-kind’ AI-powered all-in-one risk management system and newest arm of AXA, has partnered with Earth imaging company Planet to track natural catastrophes such as earthquakes and hurricanes.
Developed to address the challenges of the “polycrisis,” AXA DCP integrates advanced technology, extensive data, third-party software, artificial intelligence, and human expertise into a single AWS-based platform to support comprehensive risk management, including prediction and prevention.
Planet, meanwhile, is one of the world’s leading providers of satellite imagery and Earth data analytics and currently supplies climate intelligence to a wide range of private clients as well as major government bodies.
Founded by former NASA scientists, Planet operates the world’s largest commercial Earth-imaging constellation, capturing multi-spectral images of the entire land surface nearly daily.
Under this agreement, Planet will supply AXA DCP with near-real-time data on extreme events.
The partnership reportedly arrives at a critical moment, as increasingly interconnected risks are harder to address in isolation and more challenging to manage overall.
Pierre du Rostu, CEO of AXA DCP, commented, “Natural disasters are now an ever-present danger, and the climate crisis is making them worse.
“At a time like this, we are looking to strike deals with those companies that can provide us the high-quality climate intelligence we need to better understand and respond rapidly to such events and, to the degree that it is possible, foresee them and enable our clients to take preventative or evasive measures.
“Planet’s data and insights will greatly enhance our ability to do this. We are pleased to be able to bring together that data and our in-house expertise to support our clients and the rest of society. This is the future of insurance.”
Will Marshall, CEO and Co-Founder of Planet, said, “We’re delighted to be partnering with AXA. This will integrate satellite data into AXA’s digital platform to enable smarter claims monitoring.
“With extreme weather events occurring with ever greater scale and frequency, real-time information is critical to intelligently respond.
“This partnership provides AXA’s customers with the objective data needed to navigate environmental volatility and protect communities.”
In related news, AXA DCP recently struck a deal with ICEYE, the manufacturer and operator of the world’s largest synthetic aperture radar microsatellite constellation, enabling it to track floods, wildfires, hurricanes and other extreme weather events with what the companies called an “unprecedented” level of precision.
