What’s new at Nearmap?
Newest
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Scheme of Arrangement Implemented
Nearmap advises that the scheme of arrangement pursuant to which Thoma Bravo will acquire all of the issued shares of Nearmap has now been implemented.
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New aerial technology tackles the impacts of climate change
Nearmap and The Nature Conservancy Australia announce innovative partnership to apply location intelligence technology to manage conservation projects.
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Nearmap boosts greater aerial coverage to more Australians
Customers will access market-best coverage of +500,000 sq kms of total coverage annually in Australia, including ~168,000 sq kms of unique coverage.
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Brisbane tops ranking of Australia’s leafiest cities
National artificial intelligence data from Nearmap for the first time reveals Australia’s greenest cities and suburbs, with Brisbane topping the list.
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Aerial mapping tool bolsters natural disaster recovery
Nearmap provides high quality, city-scale location data within days of major natural catastrophes to support community recovery efforts and expedite claims.
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ACT tree growth tracked by artificial intelligence technology
Year-on-year tree canopy increase quantified following analysis of artificial intelligence data sets and high-resolution aerial imagery by Nearmap.
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Nearmap Hires Don Weigel As Vice President of Products
Nearmap aerial imagery is a source of truth that is always on and instantly available to help users make educated and informed decisions.
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Post-catastrophe imagery supports agencies in Australia
Post-disaster aerial imagery technology assists relief agencies and insurers in accurately determining the extent of damage and help impacted properties.
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Study reveals tree canopy decline in Adelaide
10-year tree canopy decline quantified for the first-time following analysis of artificial intelligence data sets and high-resolution, city-wide aerial imagery by Nearmap.
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Nearmap peril models adopted for rating and pricing in 27 jurisdictions
peril models adopted for rating and pricing in 27 jurisdictions Nearmap peril models adopted for rating and pricing in 27 jurisdictions SALT LAKE CITY, UT, Nov 7, 2024 – Nearmap, a leading provider of property intelligence to insurers, is proud to announce regulatory approval of its predictive AI-powered peril models and scores in 26 states, plus Washington, D.C. These pre-approved state rate filings are ready for use in insurers’ rating plans, and Nearmap plans to expand coverage to the rest of the US. Completed in collaboration with Milliman Appleseed , an insurance advisory organization with deep subject-matter expertise, insurers can quickly adopt cutting-edge models to more accurately price and rate risk. The AI models developed by Nearmap are used in predictive vulnerability and claim scores covering wildfire, hurricane, wind, and hail risks. By leveraging trusted third-party regional hazard data, historical claims and damage datasets, and computer vision technology detecting roof condition and property attributes, these scores provide insurers with accurate insights for rating and serve as precise, actionable predictors of future claims for different perils. Additionally, Nearmap has worked closely with Milliman Appleseed for three years, leveraging their extensive ratemaking and regulatory filing experience. As a result, Nearmap predictive peril scores are reviewed and filed for fast, cost-efficient adoption, and insurers can quickly integrate them into workflows to better match premiums with risk. “It’s important for insurers to continue to innovate and for regulators to ensure that the new technologies are consistent with state laws and regulations. But no insurer wants a rate filing to be delayed because the regulator hasn’t seen a new tool before,” said Peggy Brinkmann, a Principal at Milliman. “Milliman Appleseed is helping deliver solutions like the wildfire, hurricane, and wind/hail scores in an efficient manner that benefits insurers, insurtechs, regulators, and ultimately policyholders.” The predictive vulnerability and claim scores are available through the Betterview property intelligence platform, the Nearmap software solution for insurance. With these powerful tools, insurers gain a complete and transparent view of risk. This includes: Regulatory approval for peril models in over 26 states, including Colorado, Georgia, Louisiana, Texas, and Oklahoma, plus Washington, D.C. Proven claims prediction lift, providing deep insights into wildfire, wind, hurricane, and hail risks. A transparent explanation of vulnerability and claims peril scores, revealing all factors contributing to each score. High-resolution aerial imagery captured up to three times a year, continuously updating AI-powered insights to strengthen peril scores. A comprehensive suite of computer vision detections with periodic model updates, which are the foundations of the peril scores. The new generation of AI insights demonstrates the Nearmap commitment to innovation and the insurance industry. “Pre-filing our models for state approvals is a great value-add for insurers. Once a state approves a score, it allows the insurer to quickly incorporate it into their insurance rates without extra time, cost, and uncertainty,” stated Madeleine Lopeman, Director of Data Science at Nearmap. “In addition to pre-filing, we can also support carriers’ own filings, providing data and documentation to ensure a smoother rate filing process from the start.” Nearmap is committed to continually delivering accurate and reliable scores for enhanced risk assessment. This initiative not only improves the precision of insurance underwriting and rating but also empowers insurers to efficiently manage severe weather and climate-related risks.
About Nearmap
Nearmap PR Contact: Taylor Cenicola, taylor.cenicola@nearmap.com
Nearmap provides easy, instant access to high-resolution aerial imagery, city-scale 3D content, AI data sets, and geospatial tools. Using its own patented camera systems and processing software, Nearmap captures wide-scale urban areas in Australia, New Zealand, the United States and Canada several times each year, making current content instantly available in the cloud via web app or API integration. Every day, Nearmap helps thousands of users conduct virtual site visits for deep, data-driven insights—enabling informed decisions, streamlined operations, and better financial performance. Founded in Australia in 2007, Nearmap is one of the largest aerial imagery and location intelligence companies in the world.
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