The Geospatial Insurance Consortium (GIC), an insurance industry consortium spearheaded by the National Insurance Crime Bureau (NICB) and powered by Vexcel Imaging’s data program, together with Arturo, the AI-powered analytics platform for residential and commercial property characteristic data and predictive analysis, have announced their partnership. Together, the companies are bringing GIC member insurers access to advanced imagery, along with differentiated property data and analysis at an unprecedented speed. This helps insurers to make more informed decisions when underwriting and improves situational awareness to expedite claims and improve fraud detection following major catastrophes.
Arturo grew out of more than three years of research by American Family Insurance on the application of AI and deep learning to satellite, aerial, drone, and ground-level imagery to accurately assess physical property characteristics for residential and commercial properties from the highest resolution and most current imagery. Arturo’s dynamic AI-powered analytics generate detailed property information, often in under five seconds. By deriving this data from the GIC’s high-resolution imagery, insurers gain a deeper understanding of properties in real-time. This speeds up and simplifies how they do business and generates insights in seconds that would take hours if performed manually.