Nearmap Insurance

We’re excited to unveil our inaugural report! https://bit.ly/3CLtAFo We surveyed U.S. P&C insurers about the emerging risks they face and how technology—particularly #AI-derived insights from #AerialImagery—is transforming risk management. Here are some key findings: 1. Although 69% of P&C professionals agree severe weather is disrupting the industry, 67% believe AI-derived insights could significantly reduce fraudulent claims. 2. 60% of respondents say AI-derived insights would enable them to insure homes and businesses in high-risk areas, such as those prone to wildfires or flooding. 3. 54% of insurers are already using or considering AI-derived insights from aerial imagery, while 33% have no plans to adopt it, and 12% remain unsure. David T. sums it up: “Looking ahead, our industry must accelerate its adoption of technology—not only to price more effectively, but to empower insureds as active partners in risk management.” Read the full announcement and get the report here: https://bit.ly/3CLtAFo #LocationIntelligence #PropertyAndCasualty

🎊 Before the year ends, we have more rate filings to announce! Our #Hail and #Wind scores are now approved for use in insurers’ rating plans in Minnesota, Idaho, and Delaware. All our scores are pre-filed with state regulators, making adoption fast and cost-efficient. And more states are on the way! Check out our map below for the latest updates 👇 Learn more about our scores here: https://lnkd.in/gyf5654W #PredictAndPrevent #PropertyIntelligence

Every state now faces CAT exposure from perils like wind, hail, flooding, wildfires, and hurricanes—no one is immune. David T. discusses how the industry's shift to #PredictAndPrevent will help mitigate these challenges. Watch the full video here: https://lnkd.in/g_UVQi3D #WeatherRisk #CATEvent

What do insurers need from #AI? Real, measurable #ROI. Discover the benefits of AI—and how to choose and implement the right technology—in our latest blog: https://lnkd.in/gHryK55n #PropertyIntelligence

Property inspections aren't new. What is new are the tools enabling remote inspections to be done more effectively and at scale. David T. explains how #ComputerVision and #MachineLearning tools (extracting data from #AerialImagery) provide underwriters and claims professionals with everything they need to know about a roof. Watch the full interview here: https://lnkd.in/g_UVQi3D

Next-generation risks are outpacing current business practices in the U.S. property and casualty (P&C) insurance industry, according to Nearmap's Next-Gen Risk Readiness Index on P&C insurance. Read the report summary from #CLMMagazine here: https://bit.ly/3ZMkykN #Insurance #ClaimsManagement #LitigationManagement #InsuranceDefense

The combination of #AI and #AerialImagery has extraordinary power to reveal insights that help insurers mitigate risk, reduce costs, and drive #ROI. In fact, 60% of insurers agree these insights can make previously uninsurable properties viable. Read our latest blog to see how: https://lnkd.in/gJeTT5jN #PropertyAndCasualty

"The insurance industry has an incredible opportunity to continue protecting assets and guiding policyholders through difficult situations." Despite severe weather risk, #AI-driven insights can help insurers price accurately, mitigate risk proactively, and expand insurability. Read the latest Digital Insurance by David T. to learn more: https://lnkd.in/gBgCi7rx #PredictAndPrevent #Claims #RiskManagement

The application of #AI in accurate risk assessment and pricing offers significant benefits for both insurers and policyholders—especially as emerging risks rise. Check out Risk & Insurance's coverage of our recent survey of top P&C insurers to learn more! https://lnkd.in/gbP8HXJ3 #PredictAndPrevent #Claims #RiskManagement

🌍 2024: A Year of Unprecedented Natural Catastrophe Losses As we approach the end of 2024, estimated insured losses from natural catastrophes are set to exceed USD 135 billion, marking the 5th year natural catastrophe losses have breached the USD 100 billion mark. 🔹 This year’s active hurricane season, including Hurricanes Helene and Milton, brought devastating losses nearing USD 50 billion. 🔹 Flood events in Europe and the Middle East resulted in an additional USD 13 billion in insured losses, further highlighting the need for innovative strategies to address increasing climate vulnerabilities. 🔹It is the second costliest year for Severe Convective Storms These events underscore the critical role of the reinsurance industry in helping communities and businesses recover while making the world more resilient. Read the full press release: https://ow.ly/Ro9S50UlsCQ