AXA XL Insurance has partnered with SpaceAble, a start-up specialising in space situational awareness (SSA), in a bid to better support satellite operators and organisations operating in space.
SpaceAble, which is based in France, aims to improve operational safety in Low Earth Orbit (LEO) through the collection and management of space-related data and modelling.
“According to industry reports, commercial launch costs to LEO have been reduced by a factor of 20 over the last 20 years,” said Chris Kunstadter, global head of space at AXA XL. “This, combined with significant investment and development in smaller satellites, means that the LEO economy will continue to grow considerably over the next decade, making it a strategic area of focus for satellite operators and space insurers.”
The partnership will give AXA XL access to technology from SpaceAble, including ISSAN, a LEO data collection and secured web-based platform. AXA XL will combine it with its underwriting and risk management expertise to improve its products and services for satellite operators.
“We are proud to have partnered with AXA XL, a leading global provider of space insurance,” said Julien Cantegreil, SpaceAble CEO. “This collaboration will allow us to refine our offering and to co-develop new solutions for insurers and satellite operators. Together, we will play a key role in increasing operational safety in LEO and, more broadly, in shaping the future of space environment.”