As Europe continues to see storms, heavy rainfall and flooding,  global insurance giant AXA has today announced a new partnership with a global imaging company to create the ability to track major natural perils.

AXA Digital Commercial Platform, the insurance group’s AI-powered all-in-one risk management system, has formed a partnership with Earth imaging company, Planet, to track natural catastrophes such as earthquakes and hurricanes.

AXA DCP, which combines technology solutions with human expertise, is described as a “one-stop shop” for solutions to a range of rising threats, including natural disasters, cybercrime, geopolitical shifts, and more. Planet, which was founded by former NASA scientists and is a pioneer in the design and manufacturing of small satellites, will provide AXA DCP with near-real-time data on extreme events.

AXA added: “Planet 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. It operates the largest commercial Earth-imaging constellation in history, imaging the entire land surface of the planet nearly every day with multi-spectral data. No other commercial fleet matches its cadence and scope.

“The agreement comes at a vital time. The world is in the grip of a ‘polycrisis’, where risks are interconnected, making them impossible to tackle in isolation and more difficult to manage overall. AXA DCP takes a holistic approach that emphasises prediction, prevention and responding rapidly and intelligently to events. Its suite of solutions allows its clients to anticipate crises and take action to avoid costly harm.”

Pierre du Rostu, CEO of AXA DCP, said he was delighted with the partnership and what it will bring to the company and its clients.

“Natural disasters are now an ever-present danger, and the climate crisis is making them worse,” he explained. “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 are 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.”