Nearmap Offers Customers Coast-to-Coast Coverage with Addition of Hexagon Content Library

Rhea-AI Summary

Nearmap, a global leader in location intelligence solutions, has announced the expansion of its imagery coverage across the U.S. through a partnership with Hexagon's Content Program. This addition complements Nearmap's existing coverage of 87% of the U.S. population, allowing insurers to gain insights into less populated geographic regions.

The expanded coverage will be accessible through Partner Connect, the Betterview platform's ecosystem for integrating third-party geospatial datasets and tools. This enhancement enables insurance companies to:

• Optimize underwriting efficiency
• Reduce physical inspection spending
• Recommend risk mitigation steps to policyholders

Nearmap surveys over 100 million parcels in the United States up to three times per year, providing insurance companies with valuable location insights for better-informed decisions across the entire policy lifecycle.

Positive

• Expanded imagery coverage across the U.S., including less populated areas
• Partnership with Hexagon's Content Program to enhance data availability
• Improved risk management capabilities for insurance customers
• Potential for increased efficiency and cost reduction in underwriting processes

Negative

• None.

With the addition of Hexagon's aerial imagery, P&C insurance companies can now access broader, nationwide coverage to better support their portfolios

SALT LAKE CITY, Oct. 15, 2024 /PRNewswire/ -- Nearmap, a global leader in location intelligence solutions, announced its Betterview property intelligence platform will expand imagery coverage across the U.S. using data from Hexagon's Content Program. This addition to Nearmap imagery, which already covers 87% of the U.S. population, enables insurers to gain insights into less populated geographic regions.

Nearmap insurance customers can access imagery from the Hexagon Content Program through Partner Connect, the Betterview platform's ecosystem for integrating third-party geospatial datasets and tools. Hexagon imagery is updated and captured using advanced sensors, making it an ideal complement to the suite of risk management tools already available in Partner Connect. 

Many insurance companies writing business in the less populated areas of the U.S. struggle to obtain the necessary imagery to effectively manage property risk. The additional imagery, along with predictive risk scores, partner data like regional hazard data, permit data, replacement cost, and other tools, enables insurers to optimize underwriting efficiency, reduce physical inspection spending, and recommend risk mitigation steps to policyholders.

"By expanding our coverage, we're ensuring our customers have access to the most comprehensive and current view of properties," said Dave Tobias, GM of Insurance at Nearmap. "It's a significant addition to the extensive datasets available in Partner Connect, further empowering our customers with the tools they need to improve risk management across their portfolio."

Nearmap surveys more than 100 million parcels in the United States up to three times per year, making it easy for insurance companies to unlock location insights needed to make better-informed decisions across the entire policy lifecycle. With this update, Nearmap expands its customer commitment to delivering reliable and precise property intelligence, helping insurance carriers minimize losses, optimize underwriting processes, enhance risk mitigation, and accelerate claims.

To learn more about this announcement, visit: www.nearmap.com/products/betterview

About Nearmap:
Nearmap is the location intelligence provider that professionals rely on for consistent, reliable, high-resolution imagery, insights, and answers to create meaningful change in the world.

The Betterview and ImpactResponse platforms by Nearmap are integrated technology solutions built for insurers applying proprietary AI and computer vision to high-resolution aerial imagery and geospatial data — generating highly accurate property intelligence.

With Nearmap, insurance companies have on-demand insights throughout the policy lifecycle that increase quoting speed and accuracy, optimize underwriting efficiency, enhance property risk mitigation, and expedite claims. Nearmap is the only full stack provider of location intelligence — from camera, to capture, to processing — as utilized in the Betterview and ImpactResponse platforms. 

For more information, please visit www.nearmap.com/solutions/insurance.

About Hexagon:
Hexagon is the global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications. 

Our technologies are shaping production and people-related ecosystems to become increasingly connected and autonomous, ensuring a scalable, sustainable future.

Hexagon's Geosystems division provides a comprehensive portfolio of digital solutions that capture, measure, and visualise the physical world and enable data-driven transformation across industry ecosystems. 

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,500 employees in 50 countries and net sales of approximately 5.4bn EUR. Learn more at hexagon.com and follow us @HexagonAB. 

PR Contact
Taylor Cenicola
taylor.cenicola@nearmap.com

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SOURCE Nearmap

FAQ

What is the significance of Nearmap's partnership with Hexagon for its imagery coverage?

Nearmap's partnership with Hexagon's Content Program expands its imagery coverage across the U.S., particularly in less populated areas. This allows insurance companies to gain better insights into properties in these regions, improving their risk management capabilities.

How often does Nearmap survey parcels in the United States?

Nearmap surveys more than 100 million parcels in the United States up to three times per year, providing insurance companies with current and comprehensive property data.

What benefits does the expanded coverage offer to insurance companies?

The expanded coverage enables insurance companies to optimize underwriting efficiency, reduce physical inspection spending, and recommend risk mitigation steps to policyholders. It provides a more comprehensive view of properties across the U.S., including less populated areas.

How can insurance customers access the Hexagon imagery data through Nearmap?

Insurance customers can access the Hexagon imagery data through Partner Connect, which is the Betterview platform's ecosystem for integrating third-party geospatial datasets and tools.