Iceye and Fermat Capital enter strategic alliance

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Radar provider Iceye, and Fermat Capital Management, an investment manager in the insurance-linked securities, announced a strategic collaboration in which Iceye will provide Fermat with near real-time flood hazard data and support research and development into other natural perils.

According to the agreement, Iceye will provide high-resolution flood data for large-scale events including information on flood extent and flood depth. Iceye is able to provide granular hazard and damage data through what they claim to be the largest SAR (synthetic aperture radar) satellite constellation yet. In cooperation with Fermat, the two companies will explore new potential uses for the technology, like wildfire-related events.

Iceye’s SAR technology ensures uninterrupted visibility all day and night in any weather conditions. The company expects the near-real time hazard and damage data to transform the insurance industry.

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