Property intelligence insurtech provider Nearmap has launched Portfolio Intelligence, an AI-driven solution that provides insurers with insights at the portfolio level.
Integrated into Nearmap’s Betterview platform, this tool enables carriers to assess risk distribution, evaluate performance by agency or region, and identify market opportunities.
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Portfolio Intelligence leverages aerial imagery to deliver AI-powered risk detections and scores, offering insurers a view of their portfolio’s risk distribution.
This automated approach to data aggregation is said to streamline the process of understanding portfolio health.
The tool allows for the identification of high-risk areas such as locations with a number of properties with poor roof conditions.
Portfolio Intelligence also provides features for filtering and analysing properties based on criteria such as roof condition, third-party data and custom risk flags.
Nearmap insurance GM David Tobias said: “For too long, insurers have been forced to manage risk property by property, making it difficult to scale and optimise portfolio performance. Portfolio Intelligence changes that by bringing AI-powered property intelligence to the portfolio level, providing a clear, immediate view of risk distribution and portfolio health – without the delays of manual analysis.
“More importantly, it enables insurers to take proactive steps based on these insights, improving underwriting efficiency, minimising losses and identifying new growth opportunities.”
In October 2024, Nearmap finalised an asset purchase agreement with property intelligence platform Tensorflight, aiming to integrate the latter’s datasets into its offerings.
Additionally, in November 2024, Nearmap received regulatory approval for its predictive AI-powered peril models and scores in 26 states and Washington, DC.
These state-approved rate filings are available for integration into insurers’ pricing strategies.
Nearmap, in partnership with Milliman Appleseed – an insurance consultancy – aims to extend coverage across the entire US.
Its AI models generate predictive vulnerability and claim scores, assessing risks related to wildfires, hurricanes, wind and hail.
