CoreLogic, a property information company, has acquired geographic data analytics solution Location.
The Location connects deep spatial and property risk assets with machine learning and analytics to provide the insurance, finance and real estate sectors with insights, projections and risk assessments.
Commercial and residential underwriters use Location for a variety of purposes, including water, fire and hail risk, neighbourhood-specific crime, and more, to help better judge risks to properties.
CoreLogic is a property insights and solutions platform which helps underwriting, building valuation, market and prospect intelligence, and risk management.
CoreLogic executive Steve Brewer said, “Location, Inc.’s unique risk analytic products enhance the CoreLogic offering for property and casualty insurance by expanding our capabilities in predictive, location-based analytics.
“Together, we will complete the puzzle on some of the unknowns insurers face with risk assessment for non-weather water and fire loss – a true industry first. Our commercial and personal lines customers can now benefit from the most granular, accurate and predictive set of risk variables to mitigate risk, increase profitability and drive value for their customers.”
Fellow geospatial analytics platform SpatialKey was recently acquired by Insurity, a data analytics solution for insurance brokers.
Cape Analytics, which also offers geospatial property data to help insurers, closed an investment from State Farm Ventures earlier this year.
Copyright © 2020 FinTech Global
