AI Startup EarthDefine Announces Expansion of its Building Footprint Geocoding and On-Demand Property Information
EarthDefine's building footprints are generated using state-of-the-art deep neural networks.
This AI-based approach is extremely accurate (98% accuracy) and allows EarthDefine to continually grow its building footprint database to provide an updated snapshot of commercial and residential properties throughout the continental US.
In addition to its building footprints, EarthDefine provide the following property attributes to help insurers make better and more accurate risk-based decisions:
- Distance to Power Lines
- Tree Coverage
- Ground Elevation
- Building Heights
- Swimming Pools
- Building Change Detection
"We're extremely happy that we could get our latest geocoding and tree canopy update released so we could assist P&C insurers when they need it the most," said Vikalpa Jetly, CEO & Founder, EarthDefine. "According to
EarthDefine's building footprints are the latest generation of geocoding solutions, which have evolved from zip code-based centroids to street interpolated geocoding and, most recently, parcel-level geocoding. While these forms of geocoding may generate useful insights, they are also flawed because they are based upon assumptions on where properties are located on a map. For example, with parcel-level geocoding, addresses are always mapped to the center of a parcel. This poses a problem because parcels often vary in size, so if a policy is located in the upper northeast corner or lower southwest corner, then a carrier will be basing their wildfire, flood, hurricane, hail, etc., determinations on the wrong location. This can quickly lead to stacking errors where hundreds or even thousands of addresses in a book of business may be incorrectly geocoded, leading insurers to suffer higher losses than anticipated.
EarthDefine's building footprints may be accessed as flat files or via a
- Reducing post bind adjustments by identifying the correct location of an address during the time of quote
- Eliminating fraudulent claims payouts by validating addresses during FNOL
- Improving catastrophe modeling accuracy by pinpointing the exact locations of policyholders' addresses
- Uncovering high-risk locations
- Reducing underinsurance by identifying secondary structures within a parcel
Insurance carriers, MGAs, and reinsurers may request a free trial by contacting Vikalpa Jetly, CEO, EarthDefine at [email protected] or 1.800.579.5916.
About EarthDefine
EarthDefine is using AI to transform earth sensor data into consumable geospatial information products.
Media Contact:
Vikalpa Jetly
1-800-579-5916
[email protected]
View original content to download multimedia:http://www.prnewswire.com/news-releases/ai-startup-earthdefine-announces-expansion-of-its-building-footprint-geocoding-and-on-demand-property-information-301155662.html
SOURCE EarthDefine
RightSure Chosen as Best Agency to Work For
Nippon Life Insurance Company Launches Avatar-based Sales Rep Training Program, Powered by Sensely
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News