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Elevate Underwriting with Fire Risk Technology

Oct 2023

With high-resolution aerial imagery and advanced analytics, Nearmap Fire Risk AI delivers property insights for wildfire risk and loss mitigation across the entire policy lifecycle.

Oct 2023

According to the National Interagency Fire Center, in the period from 1983 to 2022, the United States has experienced significant fluctuations in both the number of wildfires and the acreage affected. Over the past four decades, fire incidents have varied, with an observable uptick in both the number of fires and the acres burned in more recent years. The past decade has witnessed years with notably high figures, such as 2015 with 68,151 fires engulfing a substantial 10,125,149 acres. The data reflects a pressing need for comprehensive wildfire management and mitigation strategies in light of the persistent and seemingly escalating threat of wildfires across the country.
The ability to accurately assess wildfire risks is indispensable for underwriting success. Cutting-edge Nearmap Fire Risk AI presents a pioneering solution, enabling insurance carriers to hone their risk assessment and policy decisions. Through high-resolution aerial imagery and advanced AI analytics, Nearmap Fire Risk AI delivers detailed property insights for a comprehensive understanding of wildfire risk and loss mitigation across the entire policy lifecycle.

Unlock Precision in Wildfire Risk Assessment

Utilizing industry-leading aerial imagery, Nearmap Fire Risk AI transcends the limitations of low-resolution or outdated imagery commonly found in the industry. This robust platform provides timely and comprehensive AI-derived property data that is critical in making insightful decisions to mitigate and manage risk.

Rich Data for Comprehensive Analysis

Explore a wide variety of AI-derived risk factors that bring further clarity to your underwriting process. Nearmap Fire Risk AI is crafted to provide a multidimensional view of properties, assessing defensible space buffers, 3D attributes, and more. Delve deeper into risk analysis with enriched data layers that enhance transparency and understanding for in-house wildfire risk assessments.
By consolidating high-quality defensible space data, 3D topographic data with third-party fire risk data from USDA and USGS into a singular, user-friendly interface, Nearmap Fire Risk AI simplifies implementations. This blend of comprehensive data serves as a solid foundation for insurance carriers aiming to make more effective premium pricing decisions based on up-to-date insights with crystal-clear certainty.

Seamless Integration for Optimized Workflows

Nearmap Fire Risk AI is designed for seamless integration into existing workflows, ensuring a swift adoption and immediate value addition. With data delivered via API in a flexible CSV format, integrating risk insights directly into your underwriting process has never been more seamless—removing the challenges of utilizing outdated or low-resolution imagery for a solution that keeps you prepared with the most current data.
Additionally, the ability to customize risk factors allows insurance carriers to build optimized models that reflect their specific needs and risk appetites most pertinent to their company. This level of customization fosters a more accurate, faster underwriting process, enhancing the overall efficiency of risk management workflows.

Accelerated Underwriting Decisions

In the fast-paced insurance sector, speed and accuracy are vital. Nearmap Fire Risk AI empowers insurers with rapid insights, enabling faster, more accurate underwriting decisions. Stay ahead of the curve, delivering exceptional service to your clients with timely and accurate risk assessments.
Moreover, the streamlined access to comprehensive data delivered by API propels the analysis process, allowing insurance carriers to respond to evolving market demands swiftly. With rapid API response times, insurers are equipped to make informed decisions promptly, aligning with the industry’s requirement for agility and precision.

AI Gives You a Competitive Edge

In an industry where meticulousness and responsiveness are invaluable, adopting Nearmap Fire Risk AI can be a game-changer for insurance carriers. Through the integration of high-resolution aerial imagery and AI-driven analytics, insurers are poised to make well-informed underwriting decisions quickly, trimming down operational timelines and costs traditionally tied to traditional risk assessment processes. AI-generated data unfolds a deeper understanding of property-level wildfire threats, fostering more precise pricing and risk mitigation. By tapping into the exhaustive and current data curated by Nearmap Fire Risk AI, insurance carriers have the advantage of notably reducing claim costs associated with wildfires.
Even more, operational agility emerges as a distinct advantage with Nearmap Fire Risk AI, accelerating underwriting decisions through rapid API response time and seamless integration into existing workflows. Eliminating the need to manage and analyze disparate data sources significantly reduces administrative overhead, freeing up essential resources for other high-priority work. The flexibility to customize risk factors and build optimized models empowers carriers to align their operations with evolving market conditions and regulatory requirements, such as California’s updated rating guidelines. Across the board, these efficiency improvements, along with enhanced regulatory compliance, position insurance carriers favorably in the marketplace, potentially opening avenues for increased market share and heightened customer satisfaction.

Explore the Future of Underwriting with Nearmap Fire Risk AI

The integration of Nearmap Fire Risk AI technology is more than just a step forward; it’s a leap towards achieving a resilient and efficient underwriting process. Transform your approach to wildfire risk assessment and stay ahead in the competitive insurance market with pioneering technology from Nearmap.
Discover the myriad ways Nearmap Fire Risk AI can uplift your risk modeling processes, ensuring a superior understanding of property risks. Connect with Nearmap today and usher your insurance underwriting and claims workflows into a new era of precision and efficiency.
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