Verisk Analytics has patented a system to predict structure damage post a weather event. By analyzing aerial images and weather data, the system uses machine learning to assess risk and generate a data package for users. The method enhances risk assessment and response planning for affected regions. GlobalData’s report on Verisk Analytics gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Verisk Analytics, was a key innovation area identified from patents. Verisk Analytics's grant share as of February 2024 was 29%. Grant share is based on the ratio of number of grants to total number of patents.
Predicting damage to structures following major weather events
A recently granted patent (Publication Number: US11922509B2) outlines a method and system for predicting damage to a structure using a computer system. The method involves receiving a geospatial region of interest from a user, retrieving aerial images associated with the region, processing the images using a machine learning algorithm to extract structure attributes, retrieving weather data for the region, determining the likelihood of damage based on the extracted attributes and weather data, and transmitting this information to the user. The data is displayed in a graphical user interface, showing the geospatial region on a project map with property information and weather events overlaid, allowing users to toggle display layers for additional information.
The system, as described in the patent, includes a memory storing aerial images and a processor that communicates with the memory. It follows a similar process to the method, where it receives a geospatial region of interest, retrieves and processes aerial images, extracts structure attributes using a machine learning algorithm, retrieves weather data, determines the likelihood of damage, and transmits this data to the user. The graphical user interface displays the information in a project map format, allowing users to interact with property information and weather events. The system also calculates a risk rating level correlated to the likelihood of damage and can detect, extract, and categorize structure data from various sources, including weather-related and non-weather-related events.
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