Leading academics and insurance industry experts gathered at Lloyd’s of London recently to investigate how observing earth from space is giving us a better understanding of earthquake risk.
With terrible images from the Mexico earthquake still fresh in memory, few need reminding of the terrible consequences of earthquakes and the pressing need to reduce the impact they have on people’s lives.
Sponsored by MS Amlin, the Earthquakes from Space event was an opportunity to share knowledge and insights into how we can use satellite technology to calculate and manage risk.
The insurance industry relies heavily on catastrophe modelling to calculate risk. The latest science updates from the United States Geological Survey and catastrophe model releases have given fresh impetus to the topic of earth observation from space and its significance for earthquake modelling.
Satellite technology is being used to understand seismic hazards and reduce the risks from disasters. After an earthquake, it helps the insurance industry assess the damage quickly so it can take appropriate action.
Dr. Tina Thomson, MS Amlin Research Manager, and one of the event organisers said:
“This was a rare opportunity to bring together leading figures in the catastrophe modelling world to discuss how we can use satellite technology to improve our understanding of earthquake risks and improve our response to disasters when they happen.
“All in all it was a great success and gave us much food for thought about how we channel emerging technologies to improve our knowledge and understanding of earthquake risks.”
Several notable speakers attended the event, sharing their views on earthquake imagery from space and its application in the (re)insurance industry:
Earthquakes from space: earth observation for quantifying earthquake risks, took place in the Old Library, Lloyds of London, on September 25. It was organised by the Remote Sensing and Photogrammetry Society (RSPSoc), The Association for Geographic Information (AGI) and the Royal Geographical Society. It was sponsored by MS Amlin, RMS and Impact Forecasting.