TLDR: Howden has secured funding from the UK Space Agency’s ‘Unlocking Space for Business Grant Call 2’ to develop an AI-powered biodiversity risk monitoring solution. This project, in partnership with PCI Geomatics, will utilize satellite data and artificial intelligence to help insurers, landowners, and developers track ecological changes, integrate earth observation data into risk assessments, and support compliance with nature-related regulations like TNFD and England’s BNG policy.
Howden, a global insurance group, has been awarded a significant grant from the UK Space Agency to develop an innovative artificial intelligence (AI)-powered tool aimed at assessing and monitoring biodiversity risks. The funding, secured through the UK Space Agency’s ‘Unlocking Space for Business Grant Call 2’, will enable Howden to build a sophisticated biodiversity risk monitoring solution that leverages satellite data and advanced AI capabilities.
The project will be spearheaded by the Howden Resilience Laboratory in collaboration with PCI Geomatics, a leading provider of earth observation solutions. The primary objective is to create a scalable monitoring system designed to assist insurers, landowners, and developers in effectively tracking ecological changes across various land sites. This initiative seeks to integrate earth observation data directly into insurance underwriting and risk assessment processes for land-based assets.
The development comes at a crucial time as environmental priorities increasingly influence land development and investment decisions. There is a growing demand for precise and auditable data to measure and record nature-related risks, including biodiversity loss, habitat degradation, and broader ecosystem changes. Existing methods, such as traditional field surveys, are often costly, time-consuming, and difficult to scale across multiple or remote locations, leading to inconsistent datasets.
Howden’s new monitoring system aims to overcome these challenges by combining high-resolution satellite data with artificial intelligence and land classification models. This integration will enable the identification of habitat boundaries and provide critical insights into environmental shifts. The solution is expected to support compliance with emerging regulatory frameworks, such as the Taskforce on Nature-related Financial Disclosures (TNFD) and England’s Biodiversity Net Gain (BNG) policy, which mandate reliable data for nature-related disclosures.
Matthew Foote, Head of Climate and Emerging Risk Intelligence at Howden, commented on the significance of the grant, stating, “This grant allows us to fully activate the capabilities of the Howden Resilience Laboratory, where cutting-edge technology meets world-class expertise to solve our clients’ most complex challenges.”
The UK government’s broader focus on artificial intelligence, as highlighted by Prime Minister Kier Starmer, is also influencing the insurance industry. Insurtech companies, including Concirrus, anticipate that AI will increasingly automate routine underwriting tasks, allowing underwriters to concentrate on higher-value decisions and strategic work. Howden’s new solution is poised to move beyond these general AI advancements by providing a clearer view of environmental risk and supporting regulatory adherence.
The tool will undergo testing on sites identified by DUAL, Howden Group’s specialist underwriting division, to evaluate its accuracy and operational value. Successful trials will inform further development and a subsequent commercial rollout across various sectors, including land development, renewable energy, agriculture, and natural resources.
This project is part of a larger initiative by the UK Space Agency, which has awarded £1.5 million in funding to six innovative space projects through its Unlocking Space for Business programme. These projects collectively aim to leverage satellite technology and AI to address climate change, decarbonize transport, and enhance accessibility. Other funded initiatives include Ether Capital’s carbon risk dashboard for the shipping industry, Furrer+Frey’s satellite-powered tool for railway electrification planning, and MakeSense Technology’s safe walking routes for visually impaired people.
The UK Space Agency’s Investment Director, Dr. Craig Brown, emphasized the real-world impact of the UK’s space sector, noting, “These projects show how the UK’s space sector is delivering real-world impact, using satellite data and AI to tackle climate change, decarbonise transport, and improve accessibility.”
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This grant underscores the growing intersection of space technology, artificial intelligence, and environmental sustainability within the financial and insurance sectors, positioning the UK at the forefront of innovative green finance solutions.
