Hurricane Harvey and Hurricane Irma Put Verisk’s Geomni Strategy in Spotlight
2017 hurricane season already offers strong justification for Geomni’s multiprong strategy
JERSEY CITY, N.J., September 8, 2017 — Just 25 days after Verisk Analytics (Nasdaq:VRSK) announced the creation of a remote sensing aircraft fleet at its Geomni business, the Geomni team put the strategy into action in response to Hurricane Harvey and Hurricane Irma. That strategy includes:
- a vast database of imagery and data from before the storm
- aircraft located in quick-response hubs that can immediately reach a disaster site to collect post-storm imagery
- essential preprocessed information about structures that is available in real time
- using imagery from a drone to create fully functioning exterior plans with all dimensions
- integrated weather data
- integration with the most widely used damage-repair estimating solution
- ongoing development of sophisticated artificial intelligence that creates estimates
- aligning with customers to develop maps that show policyholders in the storm’s path and use storm data to estimate the extent of damage
“The Geomni fleet was first on the scene and was able to stage and begin data collection flights even as the disaster caused by Hurricane Harvey continued to unfold,” said Scott Stephenson, Verisk’s chairman, president, and chief executive officer. “This gives our customers tremendous support in their efforts to quickly help victims of the storm get their lives back on track.”
The work Geomni and other Verisk businesses do before a storm is as important as the work they do after. As Hurricane Irma turned toward Florida, Geomni’s closest hubs worked with Verisk’s AIR business and its extreme event models to monitor the storm and prepare aircraft and sensing equipment for rapid response. Geomni’s vast database of imagery and data already contains key high-quality imagery of structures throughout Florida and is ready with dimensions, 3D plans, material identification, and much more. This information is seamlessly available inside the widely used estimating and claims management tools from Xactware.
“The key to Geomni is the solutions we and other companies in the Verisk family offer across a broad spectrum of needs,” said Geomni president Jeffrey C. Taylor. “From mapping where customers are in the path of a storm, to essential information about the size and type of homes in the storm’s path, to a fully functioning exterior plan for a home or business in the industry’s most widely used estimating system, Geomni has a solution set for every stage of the repair.”
To learn more about Geomni, visit Geomni.net.
Geomni, a Verisk Analytics (Nasdaq:VRSK) business, is centered around an address- and location-based database of property-related analytics. Using the latest remote sensing and machine learning technologies, Geomni gathers, stores, processes, and delivers geographic and spatially referenced information relating to residential and commercial structures. Property professionals can use the data to help determine scope of damage, discover hazards, assess risk, perform valuations, and much more. Our property analytics database supports a number of critical tools that protect people, property, and financial assets. Learn more at Geomni.net.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, natural resources, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk Analytics helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk Analytics operates in 29 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk Analytics to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.