""It was all the same data. It was all about the same physical object," he told TechCrunch. "I was like, this is nuts ... Why shouldn't I be able to have some sort of unified interface, or some sort of unified data model, that actually represents this thing correctly to whoever's looking at it?""
"The company is not so much a dev tool for aerospace engineers (though it's used that way), as it is a fintech company for space, Chan described. The software captures manufacturing and test data directly from the source, and this dataset then feeds an underwriting interface that ties directly in with the six largest insurance carriers in the market."
""The biggest technical risk that we've had to derisk is really starting to develop that underwriting model and starting to understand, what are the things that matter the most, how should they be weighted, and really starting to layer on that risk analytics piece on top of all the data that we've already captured," Chan said."
Yuk Chi Chan founded Charter Space after coordinating a satellite demonstration and confronting fragmented engineering data across spreadsheets. Charter ingests manufacturing and test data directly from source systems and standardizes that data into a unified model and interface for multiple audiences. The platform integrates with the six largest insurance carriers to feed an underwriting interface and analytics layer. The primary technical work focuses on developing underwriting models and risk analytics to identify and weight the most important failure drivers. The platform aims to speed and reduce the cost of spacecraft insurance and enable new nondilutive financing options for space companies. Small satellites often fail within the first 90 days in orbit due to internal technical faults.
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