Near Space Labs to Supply Geospatial Imagery to Arturo for Insurance 

A Near Space Labs balloon. Photo: Near Space Labs

Near Space Labs, which captures Earth Observation (EO) imagery from stratospheric balloons has reached a deal to supply imagery to property analytics data firm Arturo. 

Arturo delivers physical property characteristic data and predictive analysis for residential and commercial properties for insurance use. The company said in an Aug. 19 announcement that the Near Space Labs deal will increase its collection of aerial imagery for properties from two to three times per year to monthly or daily, and in the event of natural disasters. Arturo said near-real-time delivery of imagery datasets will improve its product offerings and offer new potential for insurance, real estate and lending uses.

Near Space Labs’ balloon-based vehicles operate in the stratosphere between 60,000 ft to 85,000 ft (18 km to 26 km) and capture 30 cm/pixel aerial imagery. This range classifies them as High-Altitude Platform Stations, or HAPS, which the International Telecommunication Union (ITU) defines at between 20 km to 50 km. 

“We are working with Arturo to solve a massive issue for P&C insurance companies. Traditionally, they have lacked up-to-date, ground-truth imagery for underwriting, claims and assessing risk,” said Rema Matevosyan, Near Space Labs CEO. “Arturo’s platform adds a layer of intelligence to enable insurance customers to better understand how commercial and residential properties change over time and also for catastrophe-triaging.”