AI startup EarthDefine expands offering to include on-demand property info
EarthDefine, a provider of high-resolution geospatial spatial data that uses artificial intelligence (AI) to analyze aerial and LIDAR imagery, has released an updated building footprint database, which contains over 156 million footprints of commercial and residential structures across the continental US.
EarthDefine’s latest update will allow insurers to identify with rooftop accuracy where structures fall within a parcel of land to improve risk rating, quoting accuracy, and claims response.
EarthDefine’s building footprints are generated using state-of-the-art deep neural networks.
Neural networks are a type of artificial intelligence (AI) algorithm that can provide accurate extraction of ground features like building footprints, parking lots, trees, swimming pools and solar panels using aerial imagery and LIDAR data across large scales and highly diverse geography.
“We’re extremely happy that we could get our latest geocoding and tree canopy update released so we could assist P&C insurers when they need it the most, said Vikalpa Jetly, CEO & founder, EarthDefine.
“According to NOAA, as of July 8, 2020, there have already been ten billion-dollar weather disasters in the United States. In order for insurers to truly understand the impact of wildfires and other severe weather events, they need to be able to take an address and pinpoint its exact location on a map.
“Once a policy’s location has been correctly geocoded, then insurers can begin their location analysis. One of the benefits of our building footprint update is that insurers can now take an address and not only pinpoint the primary and secondary structures within a parcel of land, they can also tie in vital property data, such as tree locations, land cover, and distance to power lines to gain a better understanding about the impact of wildfires.
“This information can then be used by insurers to work with agents and insureds to take proactive measures like creating more defensible space or clearing brush next to combustible materials.”
