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Sompo Japan partners with ICEYE to improve flood response
Sompo Japan will use ICEYE’s satellite flood intelligence to support faster, more efficient claims response after major flooding events.
Sompo Japan Insurance Inc., a provider of property and casualty insurance services in Japan, has partnered with ICEYE to deploy its Flood Insights solution to strengthen flood response capabilities. The goal is to help Sompo Japan better assist policyholders during natural disasters by improving how it prepares for, responds to, and recovers from flood events.
The adoption of satellite-based data is part of Sompo Japan’s Hikeshi DNA 2030 Project, which focuses on building capabilities across every phase of natural disasters, including before, during, and after increasingly severe natural hazards. The insurer said the initiative is aimed at enhancing regional resilience for communities and clients.
ICEYE will provide rapid and accurate intelligence on the extent and severity of flood events, which Sompo Japan expects to enable a faster and more efficient claims response in the aftermath of major flooding. Reinsurance News reports that ICEYE’s Japan CEO, Yasuhiro Pete Tsukahara, said the partnership expands ICEYE’s presence in Japan and supports Sompo Japan in serving customers better.