Tensorflight’s platform provides underwriters and insurers with comprehensive commercial property data. Credit: Dilok Klaisataporn/Shutterstock.

Nearmap, a provider of location intelligence solutions, has finalised an asset purchase agreement with property intelligence platform Tensorflight.

Tensorflight, focused on the property and casualty insurance sector, is powered by artificial intelligence (AI) and machine learning technologies.

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This acquisition will enable Nearmap to integrate Tensorflight’s advanced datasets into its offerings, further advancing its property intelligence solutions for insurers.

Tensorflight’s platform, known for its use of convolutional neural networks, offers underwriters and insurers access to detailed commercial property data.

This technology, which can be connected to software through an application programming interface, combines ground-level, satellite, and aerial imagery to accurately estimate replacement costs and assess risks.

The acquisition marks a key step in Nearmap’s expansion in the insurance sector, following its December 2023 acquisition of property intelligence provider Betterview.

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The integration of Tensorflight’s technology into Nearmap’s suite of solutions, including the Betterview and ImpactResponse platforms, will enhance the company’s ability to deliver precise property intelligence to insurers.

These integrated technology solutions leverage proprietary AI and computer vision applied to high-resolution aerial imagery and geospatial data, offering insurers accurate property insights.

Utilising patented camera systems, AI, geospatial tools, and software as a service SaaS platforms, Nearmap offers custom solutions to complex challenges.

The company frequently captures urban areas in the US, Canada, Australia, and New Zealand, providing instant cloud access to the content.