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 apply AirWorks technology to property risk identification and loss
AirWorks uses aerial data from drones, aircraft 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 of innovation at FM Global in Johnsto n, Rhode Island, said in the statement.