FM Global invests in aerial mapping software startupPosted On: Mar. 14, 2019 11:21 AM CST
FM Global on Thursday said it is partnering with and investing $250,000 in AirWorks Solutions LLC, a Boston-based startup developing aerial mapping software for mapping and surveying.
The insurer will be applying AirWorks technology to property risk identification and loss prevention, it said in a statement.
AirWorks uses aerial data from drones, aircrafts and satellite imagery together with artificial intelligence to create layered sketches of location topography and conditions in near real-time.
This data can be used to help identify hazards, inform critical decisions and improve the timeliness and spend on construction projects, the statement said.
“We believe this forward-thinking technology has great potential to be adapted for property risk management by identifying property hazards from the air that couldn’t otherwise be easily or safely identified,” Michael Lebovitz, senior vice president for innovation at FM Global in Johnston, Rhode Island, said in the statement.