Mapizy is an image analytics platform helping insurance and real estate businesses to adopt AI technology and quantify property value at minimum cost and risk.
Mapizy was launched from a need to better understand and monitor the built and natural environment. After a decade of R&D in both academia and industry, Dr Mehdi Ravanbakhsh -a lead researcher at UWA with a background in computer vision – launched the company in 2014 to help organisations overcome challenges of manual and old geospatial data.
Mapizy is using high-resolution satellite/aerial imagery data to pick up various information at the unprecedented land parcel level such as building footprints, pools, solar panels, rooftops and green spaces. This property analytics is pulled out fully automatically and provides customised reports that enable insurance companies, businesses, and industries to make comprehensive predictions and efficient decisions resulting in saving time and cost.
In 2018, Mapizy worked with insurance companies during the CSIRO ON Prime program to customise their geospatial analytics services to their needs and in 2019 their property analytics solution was awarded by Deloitte, IAG and RAA. Mapizy’s AI solution was awarded by global players such as MAXAR, Microsoft, and the Australian, the American and the UK Society of Photogrammetry and Remote Sensing and received several competitive grants from the Australian government.
“Our property analytics platform identifies changes to property conditions through time-series image data. With the help of ground-breaking machine learning, cloud computing, and computer vision, we quantify the changing planet and deliver advanced geospatial data”~ Mehdi Ravanbakhsh, Mapizy CEO and Founder.
The main target market for Mapizy is insurance where their property analytics platform can be used to achieve one-click quote generation, estimate accurate housing premiums, improve user experience and automate the renewal process.
Real estate is another potential client who can perform market-based geospatial analysis. Other industries such as financial institutions, property investment, construction, roofing, urban planning, building inspection, pool, gardening, turf maintenance, LGAs, and mapping organisations are other potential clients of Mapizy.
For example, banks and other financial firms can use their platform to assess the building condition and its value enabling them to evaluate loan applications more effectively. Solar panel companies can estimate the shadowing effect of trees on solar panel productivity.
As a by-product of its software solution, the government can get up-to-date building footprints and trees coverage on a parcel basis which can be used for geospatial analysis of water consumption. Its platform can be used by local councils to identify illegal building activities and perform urban expansion analysis.
Although Mapizy property analytics platform has been designed to serve the real estate and insurance markets, many other businesses that provide property-related services can benefit from its analytics including property valuers, roofing, building inspection, pool, solar, and property investment businesses.
For more information, visit the Mapizy website at https://mapizy.com/index.html