Dynamic Infrastructure to collaborate with one of the world’s largest reinsurers
15 February, 2022
After testing the company's AI system, the reinsurer Munich Re. announced that the system detects 99% of critical infrastructure failures, and it will encourage its customers to use it in order to reduce insurance costs
Dynamic Infrastructure’s AI based cloud platform, which detects maintenance failures of bridges and road infrastructures based on photographs only, is now getting a seal of approval from one of the largest insurance companies in the world. Munic Re., a world leading insurance company, announced it guarantees Dynamic Infrastructure’s system to detect 99% of the critical infrastructure failures in a monitored structure. This guarantee is based on a thorough systematic exploration done by the German company to the system by engineers and AI experts. For Dynamic Infrastructure, this cooperation allows its solution to be exposed to the large Munic Re’s customer base.
Munic Re. is one of the largest reinsurers in the world. Its revenue in 2020 was £54.9 billion. Reinsurance it’s a way of transferring or sharing some of the financial risk insurance companies assume with another insurance company, the reinsurer. This method is widely used in a large scale insurance, which might risk the financial stability of the company. Naturally, the use of reinsurers is particularly common in infrastructure insurance.
“With this third-party validation, civil managers and engineers can finally rely on fully-insured technology for confidence that no critical crack, spall, erosion or any other risk factor will catch them off guard,” explains Dynamic Infrastructure’s CEO Saar Dickman. “For proactive maintenance, damage assessment or preventive repair planning, managers know it’s literally impossible to send inspectors to all locations around the clock, examining every inch of each structure for deterioration – especially when erosion is a gradual process. Munich Re conducted its due diligence on our solution’s AI algorithm, and their backing is a game-changer to increase certainty for our customers – a unique offering in our sector.”
The company’s platform uses all the visual information gathered by the periodical inspections at the site, to include phone photographs, aerial photographs taken by drones, laser scans and alike – and composes a detailed 3D picture of the structure. The system constantly compares the current state of the structure to previous states, and detects cracks, defects and anomalies which requires preventive maintenance and automatically generates alerts for the asset operators.
Dynamic Infrastructure, founded in 2017 and operates from Tel-Aviv, New-York and Berlin, is already involved in private and public projects throughout USA, Australia, Germany, Switzerland, Greece and Israel. The company estimates that using its platform, operators of tens of thousands of assets managed to significantly reduce their operations expenses and financial investments.