Sciemus and Glacier Insurance have announced that Glacier Insurance will support the Space In-Orbit Insurance Consortium led by Sciemus Space Insurance Services Limited with immediate effect. The consortium will provide a unique technical approach in this specialized sector. The additional capacity provided by Glacier Insurance will take the consortium line size up to $35m.
Sciemus was founded in 2002 as a joint venture with QinetiQ to commercialise a risk analysis capability for insurance and was one of Real Business Magazine’s Top 50 British companies to watch in 2005. Sciemus creates pricing and analytical tools for the non-life insurance industry which allow the accurate assessment of risk and price of any insurable asset. Its suite of risk-assessment tools combine novel analytical methodologies with rich sources of data. SpaceRAT (Risk Assessment Tool) is Sciemus’ system to quantify risks associated with geostationary communications satellites. The system uses an extensive database of satellites to produce a risk profile for each critical component. These, then, form the basis of the risk profile of the spacecraft itself. The SpaceRAT database is currently the most comprehensive database of satellite performance available anywhere in the world and includes 40 years worth of proprietary satellite performance data.
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