GlobeXplorer, CDS Business Mapping Partner to Provide Online Aerial Photography in Ins. Analysis

Walnut Creek, Calif.-based GlobeXplorer LLC announced an agreement with CDS Business Mapping LLC to provide online aerial photography for CDS’ insurance analysis packages. GlobeXplorer is a wholly-owned subsidiary of Stewart Information Services Corp.

“We found that our clients had a need for more accuracy in determining the insurance risks of a particular property, especially in locations prone to brush fires and flooding,” said Dan Munson, president of CDS Business Mapping. “GlobeXplorer’s photography and mapping system gives greater accuracy in pinpointing a property and helps streamline the analysis process.”

CDS Business Mapping provides risk analysis tools for the insurance industry. GlobeXplorer imagery has been incorporated into CDS’ Risk Meter tool ( www.riskmeter.com ), which helps map exposure to risk. It provides data on coastlines, earthquake faults, tornadoes, state wind pool areas, hail, flood zones, Cresta Zones, and crime zones. With the GlobeXplorer component, users of Risk Meter can pinpoint the exact location of a property and its risk elements. This allows insurance agents to more accurately assess and price their policies. It also helps agents provide accurate information at the front end of the discussion with their clients. Normally, getting this type of information could take up to 60 days. Now it can take 60 seconds.

“With the GlobeXplorer aerial imagery, an agent using CDS’ Risk Meter can view the risk map and color aerial map side by side or as overlays,” said Rob Shanks, president of GlobeXplorer. “They can take the map marker and place it right on the roof of a property to determine if the property is in a risk area or near it. The aerial maps give an accurate impression of brush fire zones, flood zones, coastlines and their relationship to homes and businesses.”

According to Muson, this is especially useful when determining risk for a home on a large lot. In the past, agents were unable to determine if a home was in a flood zone using other methods and would typically have to physically view the property to make the assessment.

“In the insurance industry, getting the specific location right is huge,” added Munson. “Finding the exact location of a home within a property can dramatically change the answers to the risk assessment.”

Topics Mergers & Acquisitions Flood Property