GeoX Launches New Online Intelligence Platform Providing Access to 6 Billion Data Points | Business
NEW YORK – (BUSINESS WIRE) – October 1, 2021–
GeoX has announced a new facet of its real estate intelligence service, providing online information on all commercial and residential properties in the United States. The AI-enabled P&C platform covers 160 million properties in the United States and contains up to 6 billion data points. The platform is an extension of the global GeoX database covering 340 million properties.
Launched in Q4 2021, the platform contains a national property intelligence database and web services portal, through which insurance professionals can find up-to-date 3D property attributes to accurately determine and quickly the insurance premiums. It includes full aerial images and proprietary data.
The product addresses the industry-wide challenge of outdated, incomplete and unreliable data on which insurers still depend for critical damage decisions. GeoX fills this knowledge gap by elevating simple data to rich, insightful and comprehensive sources that allow insurers to more accurately assess risk and estimate reconstruction value.
Nearly a million homes along the Gulf Coast are believed to have been damaged by the recent Hurricane Ida. The subsequent subscription process would greatly benefit from the information provided by GeoX to hundreds of organizations around the world.
Izik Lavy, co-founder and CEO of GeoX, says: “The insurance industry needs to better predict a property’s propensity for disaster.
“A more proactive approach to risk management, highlighting opportunities for preventative measures, is needed to better align products with customer needs; and GeoX provides information and information on the 3D properties that allow this.
With insurance clients in the US, Australia, EU and Asia, GeoX provides automated, patent-protected aerial image modeling that empowers insurers with the richest attributes. “The resulting instantaneous response of the platform to any request for property data leads to a smoother, faster and more efficient end customer experience,” says Lavy, “with no limits imposed on scale, infrastructure and l ‘impact’.
Lavy looks forward to a future without traditional bottlenecks in the insurance industry. “Our machine vision and deep learning technology opens up a new generation of precision and richness in the built environment data, going beyond traditional property assessment methods,” he says.
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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: COMMERCIAL AND REAL ESTATE BUILDING TECHNOLOGY INSURANCE CONSTRUCTION AND BUILDINGS PROFESSIONAL SERVICES INTERNET SOFTWARE DATA MANAGEMENT RESIDENTIAL AND REAL ESTATE BUILDINGS
Copyright Business Wire 2021.
PUB: 01/10/2021 09: 00 / DISC: 01/10/2021 09:02
Copyright Business Wire 2021.