Near Space Labs, a Brooklyn, New York startup, achieved a significant milestone by deploying its Swift robots nationwide. This achievement marks the first-ever stratospheric robot network that delivers high-quality-resolution aerial imagery across the continental United States.
The robots now have enhanced 7 cm resolution capabilities, matching or exceeding traditional aerial survey quality.
Aerial Robot Deployment
The Swift is a zero-emission robot that captures up to 1,000 square kilometers of imagery per flight, which is equivalent to New York City’s five boroughs combined.
The robotic balloons operate at altitudes between 60,000 and 85,000 feet. This compact 12-pound autonomous system provides insurance companies, urban planners, and government agencies with unprecedented access to highly detailed and frequently updated aerial imagery, all at a fraction of the cost of traditional methods.
Near Space Labs’ expansion and improvement of aerial imaging are critical for the U.S. home insurance industry. In 2023, net combined ratios exceeded 110 percent, and losses surged past $101 billion. These numbers are the result of increasingly frequent and severe weather events. Hurricanes, tornadoes, and wildfires are devastating areas across the country at an increased rate. Consequently, major carriers retreat from high-risk states like Florida, California, and Texas.
Carriers retreating from these states create a cascade of consequences that threaten homeownership and regional economies. The growing gap between these mounting climate risks and insurers’ ability to accurately assess them is the root of the crisis.
Addressing an Issue
“Many insurance companies are still relying on aerial data collection methods from the 1950s to assess 2024’s climate risks,” said Rema Matevosyan, CEO of Near Space Labs. “When you consider that only six percent of the $250 billion in losses from Hurricane Helene may be covered by insurance, it becomes clear that outdated risk assessment methods are creating a domino effect: poor data leads to inadequate policy pricing, which leads to carrier losses, which ultimately forces insurers to abandon entire markets—leaving homeowners stranded and unable to secure mortgages.”
Near Space Labs is launching a nationwide deployment of top-quality, robotic imaging capabilities to address a significant challenge for insurance carriers. This initiative will provide detailed, up-to-date property data every quarter. The frequent updates enable insurers to monitor changing conditions, assess risks more accurately, and appropriately price policies—potentially enabling them to remain in or return to previously abandoned markets.
“With our balloons and our Swifts, insurance companies are able to get access to information right after the catastrophe and assess the damage and pay out claims within days instead of weeks and months,” said Matevosyan.
