Reinsurance News

Tech firm Geospatial Insight launches AI-driven property data product

29th May 2019 - Author: Charlie Wood

Geospatial Insight, a provider of independent research derived from the analysis of satellite, aerial and drone imagery, has announced the launch of its new product PropertyView.

PropertyViewThe product, available globally, combines artificial intelligence (AI) and scalable cloud computing to extract critical building information from satellite imagery.

Customers are given access via a web interface while its data fields can be readily integrated into existing risk analysis workflows.

Geospatial Insight says its new product allows insurers to rapidly populate risk-focused property databases, reducing the burden on clients to provide the data and aiding client on-boarding and retention.

“Essentially, we are offering insurers the ability to validate and enrich the information they use to rapidly assess risk and price coverage by providing current, accurate and consistent data, both at the level of an individual property and across a spatially diverse portfolio,” said Richard Hayes, Head of PropertyView Product Development at Geospatial Insight.

PropertyView can drill down and capture specific property features and extract data such as building size, building height and number of storeys, total floor area, roof type and roof material.

Dave Fox, Chief Executive Officer, Geospatial Insight added: “PropertyView offers the insurance market the opportunity to monitor their property portfolios throughout the duration of a policy as the satellites continually deliver fresh imagery that we can analyse.”

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