Database for smart insurance will be created based on satellite images

The Russian Federal Space Agency's "Space Communications" section will create a database of flood zones in Russia by 2021 based on satellite imagery. According to the department's researchers, this base will also accelerate the calculation of insurance premiums and prevent fraud.

According to roscosmos.ru, the base will be formed based on satellite images provided by the Russian Ministry of Emergency Situations and other agencies. It will allow insurance companies to calculate insurance premiums faster and more accurately, to assess total losses in flood-affected areas and to accelerate payments.

According to Mikhail Kirechko, General Director of Space Communications, the base will be the basis for the creation of an infrastructure for "smart" insurance.

The creation of a system covering 84 regions of Russia is expected to be completed within a year and a half.

Earlier, the Russian company Easar created a sketch of an orbital device that focuses on solar radiation and destroys space debris with its help.