Nearmap is combining geospatial data, AI analytics and building materials information to aid property insurer decisions.

Understanding property conditions has traditionally required piecing together information, with imagery and analytics coming from different providers and materials data available only after a loss occurs, the aerial survey insurtech says. This fragmentation slows decision-making.

“Organisations have long been forced to make important property decisions without having the full picture – an image here, a data set there and a lot of manual interpretation between,” CEO Andy Watt said. “Nearmap connects capture, AI-driven analysis and materials intelligence into a single, reliable source of truth.

“When organisations can clearly understand what exists on a property and how it’s changing, they can reduce uncertainty and make better decisions.”

Nearmap’s camera technology captures high-resolution aerial imagery, and its AI analysis offers insights on structures, conditions and change over time.

When combined with building materials intelligence, the result is “a consistent and verifiable understanding of properties at scale”.

Nearmap acquired US company Itel a year ago, allowing better repair versus replace decisions and claims accuracy within a single platform.

It also acquired software investment firm Thoma Bravo in 2023.