Skip to main content

Verisk’s Geospatial Data, AI-Enhanced Analytics and Vexcel’s Aerial Imagery Combine to Help Accelerate Insurance Response to Historic Hurricane Damage

Written by Customer Service on . Posted in Public Companies.

JERSEY CITY, N.J., Oct. 01, 2022 (GLOBE NEWSWIRE) — Verisk (Nasdaq: VRSK), a leading global data analytics provider, is working with Vexcel Data Program, the world’s largest aerial imagery program, to help insurers accelerate their response to the widespread property damage wrought by Hurricane Ian.

Vexcel, on behalf of its partner Geospatial Insurance Consortium (GIC), is deploying multiple fixed-wing aircraft with market-leading cameras to collect high-resolution aerial imagery.

Vexcel’s disaster imagery is integrated into Verisk’s Respond MAP platform, which delivers five-day hurricane wind forecasts and leverages artificial intelligence, geospatial technology, and robust property and claims data to analyze damage. The interactive platform helps insurers identify affected properties, assess the extent of damage, and manage on-site inspections.

“Recovering from the enormous destruction of Hurricane Ian will be a long journey,” said Maroun Mourad, president of claims solutions at Verisk. “But with pre- and post-hurricane aerial imagery from Vexcel and our advanced geospatial and property analytics, we’re able to help insurers identify damage, connect with victims, and begin the road to recovery.”

“The damage from Hurricane Ian is vast, but can vary significantly by property,” said Erik Jorgensen, CEO of Vexcel Group. “Our high-definition aerial imagery and world-class processing pipeline is helping Verisk provide real-time analytics to help guide and streamline the response of insurers to this catastrophe.”

Respond MAP is part of a wide range of solutions that Verisk offers to help insurers address catastrophe risks. These solutions include address-specific analytics to help underwrite properties, extreme event models and loss estimates to help manage the accumulation and transfer of risk, claims management solutions to combat fraud and accelerate payments, and computer software for professionals involved in estimating all phases of building and repair.

Learn more about Verisk’s weather and climate solutions.

About Vexcel Data Program
For 30 years, Vexcel’s award-winning technology has led the photogrammetry and remote sensing industry. Using its professional-grade UltraCam sensors and a dedicated fleet of aircraft, Vexcel operates the world’s largest aerial imagery and geospatial data program. Vexcel collects imagery in 25+ countries—including rural and urban areas in the contiguous United States. It provides a wide variety of high-resolution products from Oblique to True Ortho, DSM to Multispectral and Property Attributes. Its cloud-based aerial data improves workflows across a variety of industries. Vexcel is the operations partner for the Geospatial Insurance Consortium (GIC). More at vexceldata.com and gic.org.

About Verisk    
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

CONTACT: David Novich
201-469-2437
David.Novich@verisk.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.