Real estate software and property data provider CoreLogic just acquired geospatial platform Location, Inc.

Steve Brewer

Location, which launched out of Rhode Island in 2000, owns millions of geographic data points related to weather, crime, real estate, demographics, and more. The platform leverages that information to provide everything from risk assessment to property predictions for real estate companies and businesses across North America. According to CoreLogic, the acquisition will allow them to expand the type of non-weather-related fire, hail and crime risk assessments that it currently offers its clients.

“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,” Steve Brewer, executive of insurance and spatial solutions for CoreLogic said in a prepared statement. “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.”

Location currently has two products, RiskSuite and NeighborhoodScout, which use machine learning to provide data on which properties are most at risk to different types of damage. Underwriters typically use the platform to determine things like mortgage and insurance rates.

Andrew Schiller

“As a deeply creative team led by Ph.D. scientists, we are passionate about providing uniquely accurate insights into where – and how – some of the most pervasive risks arise in property and casualty insurance, whether they be from structure fire, non-weather water, hail claiming patterns, or crime and liability losses,” Dr. Andrew Schiller, CEO of Location, Inc., said in a prepared statement. “Joining CoreLogic means our data products will be more widely available, easier to integrate via great platforms like RiskMeter and Underwriting Center, and our innovation roadmap can advance at scale.”

Email Veronika Bondarenko

Are you ready for what the industry holds in 2020? Inman Connect New York is your key to unlocking opportunity in a changing market. At Connect you will gain insight into the future, discover new strategies and network with real estate’s best and brightest to accelerate your business. Create your 2020 success story at Inman Connect New York, January 28-31, 2019.

Agenda | Speakers | Past Connect Videos

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top