Page 36 - The Insurance Times June 2020

experienced country in launching and flying humans into
space. Their technology is getting old but has reached an When the sound of the rocket hits
unprecedented level of reliability. In terms of capabilities and you, your body physically feels the
technology, Falcon 9 is indeed way more advanced than the
Soyuz. However, I believe we would need to see a few more power of the vehicle. And when you
successes before it becomes the reference in the field of know someone is sitting on top of the
human rated launch vehicles.
vehicle, the adrenaline connects
(PG): Is the entrepreneurial zeal of Elon Musk the directly to your emotions.
differentiator over an established bureaucracy of
Boeing?
(PL): It is certain that Elon Musk had a vision and has still remember every moment of this event, not only because
remained committed to it, even in difficult times of early he was the first tourist to fly to space.
failures of Falcon 1 rockets. Both the technical and the
manufacturing efficiencies of SpaceX give them a very (PG): Would space tourism generate enough
substantial advantage over any competition. Boeing needs traffic to make it commercially viable? Would it
to re-focus on making good aircrafts and good space vehicles commence with visits to the international space
in the hard environment of Covid crisis and strong aerospace station?
competition. It is even more challenging for them to switch
(PL): Space tourism has always been extremely popular. Just
all their staff to a “nothing is impossible” mode – like SpaceX
ask your friends and relatives, you would be surprised by the
staff seems to have adopted since day one.
number of people who would like to fly to space. The hurdle
is usually not the risks but the financial part of it. Dennis
(PG): Did you watch the SpaceX launch from its
Tito’s flight to the space station cost him USD 20 million in
own ‘trampoline’? Did you feel any different from 2001. Twenty years later, the price has reduced by a factor
any past onsite launches? Which of them has 100. No doubt this trend will continue. I need to add the
been the most memorable? numerous number of near space experience offered today
(PL): Indeed, I watched the entire live cover for both the from accurate simulators to 0-gravity flights in airplanes.
first attempt and the actual launch on May 30th. I would I believe, however, that the International Space Station is not
not miss any step of the amazing launch preparation the easiest place for tourism. First, it was designed as a
sequence. I was lucky enough to be involved in many laboratory and it requires specific and complex training. Second,
manned space program starting from Shuttle to Mir docking I do not believe that tourists would want to fly for more than
and ISS key life support systems. I attended many launches a few hours, simply because the body reactions during long
in many countries but launch of humans is always more spaceflights are still difficult to accept just for pleasure. Third,
emotional than satellite launches. I have seen Shuttle launch going to and returning from the International Space Station
from Cape Canaveral and Soyuz inhabited launch from requires a difficult in-orbit rendezvous. It is inefficient to fly there
Baikonur cosmodrome. I cannot help from thinking about and return just for fun. I believe that short term flights to
the exceptional number of equipment and qualified people experience no gravity and to see the earth from above using a
who need to be ready and work exactly as planned at T-0 dedicated vehicle is certainly the future.
(launch second).
As an engineer, I am also always impressed by the (PG): Are actuaries and underwriters ready to
performances necessary to bring astronauts to a much faster price such risks?
speed than a bullet. This Dragon 2 Demo flight was no (PL): Underwriting space risks is usually not an actuarial
different. However, attending a live launch on the launch exercise, for the simple reason that the statistics are usually
pad is incredibly special and cannot be forgotten. When the too low in numbers to draw any inference. Space
sound of the rocket hits you, your body physically feels the underwriters are usually qualified space engineers who
power of the vehicle. And when you know someone is sitting would consider the flight data, manufacturing record and
on top of the vehicle, the adrenaline connects directly to testing of the equipment that are used – to price the risk. I
your emotions. I was lucky to seat just next to Dennis Tito’s remain proud to have provided insurance for the first
family on the launch pad of Baikonur in April 2001. Today, I commercial Falcon rocket.

36 The Insurance Times, June 2020