Partnership brings insurers a real-time property data feed, based on market-leading image resolution and refresh rate, for more accurate risk assessment and policy pricing
PALO ALTO, Calif. & SOUTH JORDAN, Utah — (BUSINESS WIRE) — February 28, 2017 — Today Cape Analytics, a company that leverages computer vision and machine learning to generate structured real estate data, and Nearmap (ASX: NEA), a leader in high-resolution aerial imagery, are announcing a landmark partnership. The long-term partnership allows Cape Analytics unlimited access to Nearmap aerial imagery of U.S. property locations across the continental United States in order to provide insurers with the most accurate inspection-level property data instantaneously and at nationwide scale.
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Cape Analytics has developed a cloud-based platform using Nearmap imagery that provides an on-demand data stream of high-value property features and risks for real estate portfolios across the United States. (Photo: Business Wire)
Cape Analytics has developed a cloud-based platform that provides an on-demand data stream of high-value property features and risks for real estate portfolios across the United States. For insurers, access to this data transforms their underwriting process by improving the agent and customer experience, increasing quote speed and refining quote accuracy – all with greater cost-effectiveness.
The platform now integrates the accurate and frequently refreshed aerial imagery, courtesy of Nearmap. Nearmap’s imagery provides detailed 2.8” GSD resolution that is updated on a frequent basis, which allows its subscribers to observe the truth on the ground. With such imagery, Cape Analytics can use its machine learning and computer vision algorithms to accurately assess dozens of types of property risks instantaneously – from roof features and condition, to potential hazards on a parcel such as pools and trees, to the extent of damage following a hurricane.
"Cape Analytics is using Nearmap’s industry-leading aerial imagery to provide tremendous value to the insurance and real estate industries. Our images, combined with their cutting edge artificial intelligence, opens the door to inspection-quality data, without ever needing to set foot on a property. We are excited to help Cape Analytics offer insurers this high resolution, consistent and continually updated real estate data set,” said Patrick Quigley, Senior Vice President and North America General Manager at Nearmap.
“We are proud to partner with Nearmap. This partnership will allow us to continue to extend coverage, frequency and fidelity of our property data solutions by leveraging Nearmap’s industry-leading refresh rate and image resolution,” said Cape Analytics’ CEO, Ryan Kottenstette.
To learn more about Cape Analytics, visit www.capeanalytics.com.
To learn more about Nearmap, visit go.nearmap.com.
About Cape Analytics:
Cape Analytics was established in 2014 to revolutionize the way information about the built environment is created and used. The company leverages geospatial imagery, computer vision, and machine learning to instantly and automatically extract proprietary property data for insurance carriers and other property stakeholders. Cape Analytics establishes a new category of property data and analytics, offering immediacy and coverage comparable to pre-filled data, but with accuracy and detail now relegated to time-consuming in-person inspection reports. Cape Analytics seamlessly integrates into an insurance carrier’s quote engine, via API.
Nearmap brings the real world to you. We capture, manage and deliver the most current location content in the world, allowing businesses and governments to explore their environment easily. With Nearmap, organizations unlock opportunities that consistently inform decision-making and transform the way they work. Our high-resolution, frequently updated aerial imagery is 2.8-inch GSD, better than satellite imagery. Delivered within days of capture, Nearmap shows changes over time. Users save time and money, reduce site visits and efficiently plan with current, clear imagery.
Nearmap is delivered through a refreshingly easy-to-use interface called MapBrowser or accessed via Esri® and Autodesk products.