Nearmap Completes Asset Purchase Agreement for Tensorflight

Location intelligence leader Nearmap acquires technology and assets from Tensorflight

SALT LAKE CITY,Oct. 14,2024 -- Nearmap,a global leader in location intelligence solutions,has completed an asset purchase agreement with Tensorflight,an AI-poweredplatform that uses artificial intelligence (AI) and machine learning (ML) to help P&C insurers predict potential risks and reduce overall costs. Nearmap has agreed to acquire the assets of the Tensorflight business and work with existing customers to understand how best to serve their needs now and in the future.

This asset acquisition marks another milestone in the evolution of the Nearmap for Insurance growth story—as it comes less than a year after the company announced its acquisition of Betterview,a well-established property intelligence and risk management platform. The investment demonstrates the growing Nearmap commitment to the insurance industry and the company's mission to deliver the most advanced property intelligence solutions to insurance customers.

About Nearmap:

Nearmap is the location intelligence provider customers rely on for consistent,reliable,high-resolution imagery,insights,and answers to create meaningful change in the world and propel industries forward. Harnessing its own patented camera systems,imagery capture,AI,geospatial tools,and advanced SaaS platforms,Nearmap users receive tailored solutions for complex challenges. Nearmap captures wide-scale urban areas inthe United States,Canada,Australia,andNew Zealandseveral times each year,making content instantly available in the cloud via web app or API integration.

The Betterview and ImpactResponse platforms by Nearmap are integrated technology solutions built for insurers applying proprietary AI and computer vision to high-resolution aerial imagery and geospatial data — generating highly accurate property intelligence.

With Nearmap,insurance companies have on-demand insights throughout the policy lifecycle that increase quoting speed and accuracy,optimize underwriting efficiency,enhance property risk mitigation,and expedite claims. Nearmap is the only full stack provider of location intelligence — from camera,to capture,to processing — as utilized in the Betterview and ImpactResponse platforms.

Founded inAustraliain 2007,Nearmap stands as the definitive source of truth that shapes the livable world.

For more information,please visit www.nearmap.com/solutions/insurance.

PR Contact

Taylor Cenicola

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