TELEKAIROS® - Space Derived Insurance Linked Securities (SDILS)

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Lukairos has identified an important information gap that can be provided from multitemporal satellite change detection to detect and monitor risks affecting valuable assets within the EMAC (energy, mining, agriculture and construction) industries working in remote locations.

TELEKAIROS Fintech is based on a system for advanced  analytics of satellite datasets that is capable of recognizing, classifying, and processing context and meaning to interact with financial, operational, and geopolitical data in a friendly information hub.

TELEKAIROS is focused on the convergence between (re)insurance and capital markets.   For example, the weather affects most companies’ financial performance, but “bad weather” is no longer a sufficient excuse for volatile revenues, higher costs or disappointing earnings. While companies cannot control the weather, with TELEKAIROS SDILS they can now control its financial impact. Risks associated with excess of lack of  rain or failure on the performance of renewable energy production can cause large corporations to look for ways to secure the price of their products or paid for power over long-periods, giving them certainty in their  costs, but weather is one variable which adds significant uncertainty to these arrangements, TELEKAIROS  can help clients to improve cash flow stability and allow more accurate budget management, by providing insights on how to preserve capital and ensure liquidity under force majeure circumstances.  Our methodology is a cost-effective way to manage risks. It reduces the risk of disasters at a lower cost than other policy tools because it provides users with flexibility in how and when they want to transfer the risk.

Users and their needs

Up to now, insurance companies make money in two ways: a) through underwriting, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risk and b) by investing the premiums they collect from insured parties.  Now, with TELEKAIROS the most complicated aspect of the insurance business: the actuarial science of ratemaking (price-setting) of policies, which uses statistics and probability can be enriched with satellite acumen. We bring not only a new alternative for risk transformation for institutional investors, industrial conglomerates, private equity funds, policymakers, environmental agencies and NGOs, but also an alternative methodology for insurers and reinsurance companies to reject or accept risks by incorporating satellite monitoring into the underwriting process.

TELEKAIROS. thanks to new satellite capabilities and proprietary algorithms can conduct plurality of analysis and transformation operations in seconds. Our clients can get as much information as previously only was available through insider trading.

TELEKAIROS can be used with a broad range of investment products and is a ideal tool for direct investment flows, it has been designed to help those who are doing or would like to do business in remote locations.

TELEKAIROS’s target users are based in the most important financial centres or in the most remote locations in earth where EMAC countries operates, for example in regard with copper, where they are extracted.  While the major mines are in Chile, Congo, Indonesia, Mexico or Peru, their financial advisers, fund managers, legal consultants, and banks are based in London, New York, or Zurich. Bermuda up to now is the leading venue for the insurance sector, the commercial and investment banks, institutional investors, fund managers and financial data vendors. Aberdeen, Sydney, Toronto and Houston are very active in the extractive industries.

 

Service/ system concept

Space Added Value

The proof of concept has been conducted with Telespazio satellite datasets.  COSMO-SkyMed is at the forefront of low latency and high revisit satellite SAR technology able to observe any location on Earth day and night, regardless of weather conditions, up to twice daily. The constellation has been fully operational since 2008 with its key objective to revolutionise the collection of data to support rapidly evolving and unfolding events including emergency disaster prevention, environmental risk strategic planning as well as scientific and commercial development. With a near polar orbit, COSMO-SkyMed can provide data on a global scale to support a variety of applications such as risk management environment protection, natural resources exploration, land management, defence and security.

Telespazio’s Interferometric SAR processing service (InSAR) systems, have gained popularity as a tool for earth observation for geotechnical and environmental impact monitoring of mines, oil platforms, and infrastructure. However, until now this has not been the preserve also for fund managers, banks, institutional investors, commodity traders, environmental consultants, and other interested parties in the financial & insurance ecosystem.    TELEKAIROS incorporates the InSAR datasets into a cloud based big data analytics system and through a novel methodology, incorporates relevant financial external and internal sources via a friendly information hub where they can not only find all the relevant and updated information, but also use the technology to take more informed decisions.

Current Status

TELEKAIROS demonstrated how satellite data can interact with statistical data from multiple sources.  TELEKAIROS is not limited to monitor specific areas and send alerts/alarms when something goes wrong, but also allows users to manage and interact with the information in a friendly and scalable information hub on the Cloud.   We also demonstrated how a single dashboard can aggregate data from multiple sources and provide an interactive view of complex information to support analysis and decision-making. 

TELEKAIROS uses a visual design tool that can be used as reporting platform that can generate compelling interactive infographics as well as traditional reports.  Analytic content from iHub was rendered in HTML5 and can be viewed and explored on any platform, including smartphones and tablets. 

Potential investors/end users in the energy, mining, agriculture and construction industry have shown interest in validating our technology and currently we are working on the business plan for the demonstration phase.

Project Managers

Contractor Project Manager

Hernany Veytia
Lukairos, 4 Montpellier Street Knightsbridge
London
SW7 1EE
United Kingdom
+44 (0) 7774772346

ESA Project Manager

Gonzalo Martín de Mercado
ESA ECSAT, Harwell Campus. Fermi Avenue.
Didcot
OX11 0QX
United Kingdom

Status Date

Updated: 29 October 2018 - Created: 29 October 2018