Satellite-based risk assessments for underwriters and risk engineers
Digital models of assets and the world
Climate data
Movement data
Engineering context
Value.Space's assessment
Since I met Value.Space team and saw what they are doing, I could see that there is a lot of value to be gained by the insurance industry. Understanding the risk of a potential catastrophic failure of a dam is not only about the financial cost, but also the impact on everyone downstream - on people, on lives and on industry. Having that data and being able to be pragmatic-proactive about what you do with it is super important.
Ed Gaze
CEO OF IRL, FORMER HEAD OF LLOYD’S LAB
The use of cutting-edge satellite technology will further sharpen UNECE’s support to identify and manage risks linked to mine tailings in the Pan-European region and beyond. Strengthening mine tailings safety is especially crucial given the projected increases in mining activities over the coming decades, including meeting the demands of the energy transition.
Claudia Kamke
ENVIRONMENTAL AFFAIRS OFFICER FOR THE UNECE
I was extremely impressed with both the technical capabilities of the satellite-based system and the expert analysis provided by ValueSpace. Whilst it is not a replacement for real time monitoring systems, it provides invaluable structural and stability information that conventional systems cannot. Such information can be cost-effectively used by underwriters in their assessment of mining risk as well as for mining companies in their ongoing management of critical infrastructure to identify potential failures long before they may occur.
James Fryer
CHAIRMAN OF MINING INSURANCE & RISK ASSOCIATION (MIRA)
The standard modelling tools that the insurance industry has used in the past, just can’t keep up with the pace that the world is changing. Value.Space is able to conduct risk assessments in a way that we have not been able to do before - not only is it a real time view, but it is also a view of millimeter type movements. The idea of having this very up-to-date view of the structural integrity of dams is so useful for an underwriter.
Kirstie Keate
UK BRANCH UNDERWRITING MANAGER, LLOYD’S EUROPE
In all forensic use of satellite-based monitoring and risk assessments we see that Value.Space identifies the point of failure and always in time to mitigate loss had it been required by regulators, owners and investors.
Lindsay Newland Bowker
WORLD MINE TAILINGS FAILURES
Description: The aim of the project is to support Value.Space’s international growth, with a focus on the U.S. and UK insurance markets. As a result, the company’s international visibility and credibility will increase, relationships with key clients will be established, and the preconditions for export growth and market entry in global insurance markets will be created.
Objective: To support Value.Space’s international growth by strengthening the company’s visibility and credibility in the U.S. and UK insurance markets, and by creating preconditions for exporting the solution to the international key clients through direct meetings, public speaking, and networking.
Outcome: An international network of contacts with key clients and strategic partners has been established. Dozens of new international contacts and cooperation relationships have been created with insurance-sector organizations that have a global reach. A collaboration workshop was held with WTW in London, and the next stages of cooperation were agreed.
Grant amount: EUR 50,000
The project is funded from the state budget through research and development funding instruments.
London office
ValueSpace Technologies Ltd
152-160 City Road
London, EC1V 2NX
UK
Tallinn office
ValueSpace OÜ
Ehitajate tee 114
Tallinn, 13517
Estonia
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Have a specific question, request, or just want to say hello? Use the form below to drop us a message, and our team will get back to you promptly. Your thoughts matter, and we're eager to hear from you!
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