ESA and Liberty Mutual Re explore space data for parametric insurance

The European Space Agency’s Business Applications and Space Solutions program has signed a memorandum of intent with Liberty Mutual Reinsurance to explore the use of satellite data and space technology in developing parametric insurance solutions for climate risks.

The three year collaboration will focus on applications for sectors such as agriculture and forestry, with the goal of improving risk modeling, speeding up claims through objective triggers, and making coverage more transparent and scalable. The initiative also aims to engage data and technology companies outside the insurance industry to support product development.

A workshop this month will invite data and technology companies to propose space-based solutions for assessing wind damage to forests, with selected projects eligible for ESA support and funding.

“We are delighted to announce this new MoI. It will create new opportunities for businesses looking to develop commercially viable space-based solutions for the insurance market across multiple sectors, and particularly around agriculture and forestry where climate change is having a big impact. We are looking forward to our first joint initiative in early 2026.” – Ana Raposo, Business Applications and Partnerships Officer at ESA.

“We are excited to announce our partnership with ESA. Through collaboration and forging partnerships outside of the insurance industry, we can develop cutting-edge solutions to meet the ever-changing needs of climate change related risk.” – Victor Bouton, Head of Science, Parametrics and Agriculture, LM Re.