Shory Group (“Shory”), a First.tech company and an AI-driven insurtech firm in the region, and OrbitWorks, the UAE’s first commercial satellite constellation production and operation company, have announced a collaboration to explore opportunities at the intersection of satellite technology and insurance, in a move that reflects growing convergence between space data and real-world risk management. The announcement was made at Make it in the Emirates.
The collaboration will focus on how OrbitWorks’ satellite capabilities and geospatial data can enhance Shory’s risk modelling and underwriting processes, while also exploring opportunities to extend insurance coverage to space-based assets. Initial areas of focus include satellite asset insurance and the use of geospatial intelligence to strengthen risk modelling across flood detection, environmental monitoring, and fleet coverage with unprecedented accuracy.
OrbitWorks is the Middle East’s first commercial satellite manufacturer. Its Altair constellation, a 10-satellite, multi-sensor Earth observation system equipped with optical, infrared, thermal, and RF sensing capabilities is designed to deliver near real-time geospatial intelligence through onboard AI processing, combining frequent revisit rates with rapid on-orbit data processing to reduce the time between collection and actionable insight.
Shory has built a strong track record in insuring complex, high-value assets across the region, including infrastructure, fleets, and large-scale commercial projects. The company is part of Judan Financial Holding, IHC’s dedicated financial services platform.
Aoun AlSmadi, CEO of Shory UAE, said: “We have spent years building the capability to insure complex assets at scale. Collaborating with OrbitWorks is a logical extension of that. It gives us the opportunity to bring our expertise into the space sector while putting satellite data to work in our risk models.”
Dr. Hamdullah Mohib, Acting CEO of OrbitWorks, added: “Building the commercial ecosystem around our satellite programme is a priority for OrbitWorks. Working with Shory is a practical step in that direction. Both companies are UAE-grown, and there is clear commercial logic to exploring what we can do together.”
Make it in the Emirates is the UAE’s national platform for showcasing industrial and technological capability. The announcement reflects a broader trend of UAE-based companies across different sectors identifying shared commercial opportunity.
Shory is a First.tech company and part of Judan Financial Holding, IHC’s dedicated financial services platform.
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