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Tokio Marine & Nichido Fire Insurance, collaborating with three companies who are leaders in satellite imagery analytics (ICEYE of Finland, PASCO Corporation and Mitsubishi Electric), has begun work on innovating insurance payments. The company, through its association with ABeam Consulting, has in the past used AI in analyzing satellite imagery to determine the extent and depth of flood damage. The new collaboration makes possible a faster and more extensive acquisition of satellite imagery and allows more accurate calculation of the extent of damage and the height of inundation. This will allow the interval between insurance claim and payment to be significantly reduced from the current two to three weeks.