ESA-backed startup raises funding for weather-based insurance tech

Climate change not only comes with a high cost for our planet, but for the economy as well. For context, between 1980 and 2022, EU member states have suffered losses of assets worth €650bn. Among the sectors impacted is the insurance industry, which is grappling to adapt to the new normal of frequent natural disasters, while seeing climate-related losses exceeding $100bn (€92.7) a year. London-based BirdsEyeView offers a solution. The insurtech space startup uses satellite data to develop insurance solutions for severe weather and provide SMEs with access to weather-based parametric products. Specifically, the company’s RAPTOR technology uses AI and…

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