(Image source: Orion180.)
Orion180, a Melbourne, Fla.-based insurance solutions provider using advanced technology to serve independent insurance agents and homeowners in the Southeastern United States, has partnered with Nearmap (Salt Lake City) to utilize its aerial imagery to improve their risk selection and streamline the underwriting process.
Orion180 describes itself as offering a combination of proprietary technology and customer-centric human interactions, simplifying the insurance buying process. To continue improving on their underwriting process, property data and custom-score modeling, Orion180 needed a partner that could offer high quality imagery, frequently updated data, and AI derived analytics, according to a Nearmap statement. Matching Orion180’s high level of customer service, its new partner needed to offer ease of doing business and superior support, the statement says. After a selection process, Orion180 chose Nearmap as its new imagery data intelligence provider. The integration between the two partners will be delivered through a customized API.
“We are truly proud of this new partnership. Innovation is a key pillar of Orion180 that makes up the backbone of our organization,” comments Ken Gregg, Founder & CEO, Orion180. “Enhancing our underwriting process with the technology from Nearmap is key to the continued scaling of our products and optimizing the profile of our book. Nearmap empowers our underwriting and claims teams with extremely accurate aerial technology, enabling us to effectively analyze every risk. We can determine with precision if the attributes of a property truly meet our underwriting guidelines.”
Nearmap reports that it surveys more than 100 million property parcels in the U.S. up to three times per year, making it easy for insurers to unlock location insights needed to make better-informed decisions across the entire policy lifecycle. Nearmap ays it helps ensure that users have the most up-to-date data to make more informed decisions through its solutions, such as remote roof property assessments, and pre- and post-catastrophe imagery.
“Since Nearmap uniquely owns the entire technology stack for aerial imagery-based insights, and Orion180 looks to leverage innovative solutions, the integration between Nearmap and Orion180 is a no-brainer,” comments Tony Agresta, EVP, General Manager, North America, Nearmap. “From our camera technology to image capture, processing, content, delivery, and AI insights, we are confident that our myriad of data and solutions will provide Orion180 the benefits they are looking for in a property intelligence partner.”
Nearmap recently announced significant updates to its insurance-focused solutions at its annual customer event, NAVIG8. These key updates include:
- Automated, AI-derived assessments for roof condition:Nearmap Roof Condition enables underwriters to transform their workflows and improve their underwriting decisions by utilizing frequently updated aerial imagery, AI derived data layers, and data analytics insights to more accurately determine eligibility and risk. Nearmap Roof Condition is updated with every standard survey capture, to ensure that the assessment provides the most up-to-date information. Nearmap Roof Condition includes an overall roof condition score, vertical and oblique imagery of the property, and a complete set of data detailing roof features and conditions, including roof materials, roof shapes, and conditions like rusting, staining, ponding, repairs, and missing tiles. With the ability to integrate this information into existing workflows via a CSV or PDF file, carriers can feel confident that their policyholders are appropriately covered.The combination of imagery and intelligence integrated into a variety of models and workflows allows for a myriad of key benefits including accelerated automation, improved data quality and overall deeper insights to detect change and reduce property risk. A full list of the Nearmap AI packs and layers can be found by clicking on this link.
- Automated, AI-derived insights applied to aerial captures of weather catastrophes and natural disasters:As part of the Nearmap ImpactResponse program, Nearmap commits to capture aerial imagery following major natural disasters that have a significant impact on property, infrastructure, and communities. Now Nearmap will apply AI on this data to provide rapid, automated insights enabling first responders, insurers, government departments, and other organizations to assess damage, direct critical aid, and expedite the processing of insurance claims to people and areas in need.
- HyperCamera3 (HC3):Now in-flight, this new camera system will provide higher quality imagery and resolution—allowing users to understand and determine a property’s risk more accurately. In addition, HC3 will make for better 3D reconstruction and asset inspection through 360-degree capture angles, expanded capture, and more.