LOGAN, UTAH, August 2, 2019, — Precious Payload, now a digital service to manage space missions, announces the pre-seed funding round led by a UAE-based investment firm Forte Mare.
Precious Payload was founded in the USA back in 2017 as a launch booking platform for small
In the overview of this year’s Small Satellite Conference, Jeff Foust showed how the demand for SmallSat insurance was growing due to the contraction in the GEO market. Even the big satellite operators like Planet and Spire, who were pulling back from insurance earlier, have shown their interest on a launch-by-launch basis. In response to this market need, we have created an online insurance service. Our colleague from AON, Mike Vinter, has explained why insuring a SmallSat won’t be a pain of the launch campaign, due to these new algorithms developed collaboratively.
This article originally appeared in the Aug. 27, 2018 issue of SpaceNews magazine and on the SpaceNews website on October 4, 2018. The full version is available here.
Photo credit: https://spacenews.com
“GEO satellite orders are down quite a bit, so we’re looking to get some additional premium income for the space insurance industry,” said Mike Vinter, executive vice president with AON Risk Solutions.