Addresscloud becomes Contributor Member of the Overture Maps Foundation

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Addresscloud, the leading global location intelligence platform, has joined the Overture Maps Foundation as a Contributor Member.

Overture aims to create global, enterprise-quality open map data to power current and next-generation map products.

The non-profit is combining map data from multiple sources including Overture Members, civic organisations and open data sources to allow developers to build interoperable mapping services upon it.

Executive Director at Overture Maps Foundation, Marc Prioleau, explained:

The challenge for companies providing geospatial analytics is in associating a growing set of disparate data sources with physical features such as buildings or places to provide unique insights on demand.

Addresscloud is a great example of this. We’re excited to welcome them as a member that’s expanding its risk assessment services on top of Overture’s building data layer and sharing their experiences and insights with the entire ecosystem.”

Overture is providing Addresscloud with 1.4bn global building outlines. This enables the intelligence platform to provide insurers with a rapid assessment of geographic peril risk worldwide, tailored to the size of the building. In return, members of the Addresscloud team will work with the Foundation to share knowledge and best practice on data mapping.

CEO of Addresscloud, Mark Varley, commented:

“I am delighted that Addresscloud has become part of Overture. As we scale the Addresscloud platform globally it is vital that we source high quality building footprints to ensure that we can provide the same level of quality and performance as we do in the UK. Using Overture’s data, we can pre-process buildings against perils such as flood risk as well as analysing properties following a major event such as the storms and hurricanes that we have seen recently. These building outlines also allow us to develop global fire blocks enabling users of the Addresscloud platform to undertake real-time exposure management and avoid accumulation risks before they happen.

“As a Contributor Member, Addresscloud will provide its skill-based knowledge, data and ideas to Overture. I am looking forward to working with this innovative foundation and leveraging its data to provide the insurance industry with accurate risk information.”

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