Addresscloud, a geocoding and property intelligence expert, has launched its North American product, marking a major milestone in its global expansion.
The product is designed to provide underwriters, exposure managers and data teams with precise, building-level risk insights.
Addresscloud’s CEO, Mark Varley, said: “Our expansion into North America marks a pivotal moment for Addresscloud. By rapidly delivering high-quality, location-specific risk data, we are empowering insurers, exposure managers, and data science teams with the insights they need to make informed, data-driven decisions.
“This release underscores our commitment to providing the speed, precision, and depth of analysis required to proactively manage risk, optimise portfolios, and enhance predictive modelling in an increasingly complex environment.”
Addresscloud aims to provide insurers with a deeper understanding of risk by supplying detailed insights into over 150 million properties and 20 natural hazards.
These location-specific insights, which highlight key risk factors such as flood, wildfire, and structural concerns, allow underwriters to accurately identify and assess high-risk properties, leading to more informed decisions on coverage and pricing.
Beyond underwriting, exposure managers can leverage Addresscloud’s high-resolution property data to enrich portfolios with primary and secondary modifiers, ensuring a more granular view of risk across their book.
Additionally, data science teams can enhance pricing models, and improve predictive accuracy and risk selection by also integrating this information.
The Addresscloud solution utilizes a combination of high-resolution specialist data from leading partners and open data from public agencies.
This includes JBA Risk Management’s flood data and wildfire insights from Precisely, alongside open Tax Assessor data and publicly available datasets from agencies such as FEMA, NOAA, and the U.S. Army Corps of Engineers.
Every data point is linked to a building footprint, providing a comprehensive, localised view of risk that is tailored to the specific property, Addresscloud explained.
“Insurers can seamlessly integrate Addresscloud’s APIs into their workflows, leverage advanced risk visualisation tools, or connect data directly into their own data lakes using Addresscloud’s new Data-as-a-Service (DaaS) offering to fuel analytics and machine learning models,” Addresscloud stated.
Adding: “With Addresscloud, underwriters, exposure managers, and data science teams gain access to in-depth analytics that enable them to proactively protect their portfolios, mitigate losses, and respond nimbly to today’s rapidly evolving risk landscape.”
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