Flow Flood Chooses Ecopia AI’s Building-Based Geocoding API for High-Precision Flood Insurance Underwriting

March 28, 2023 – Toronto – Today, Ecopia AI (Ecopia) announces that Flow Flood has selected the company’s Building-Based Geocoding API to power next-generation flood insurance across the United States. The high-precision geocoding engine will underpin Flow Flood’s underwriting workflows to accurately assess the unique flood risk of individual properties, providing agencies and policyholders with fair quotes that reflect real-world risk profiles.

Created using the first and only complete map of buildings in the US, Ecopia’s Building-Based Geocoding accurately associates latitude and longitude coordinates to addresses using building footprints rather than less precise street-level or parcel-based geocodes. This ensures that risks are assessed based on the true location of a property and its structures, which results in fair policy prices for both agencies and policyholders.

Each year, Ecopia updates Building-Based Geocoding by leveraging the most recent geospatial imagery from the company’s extensive global partner network. This imagery is then ingested into Ecopia’s artificial intelligence (AI)-based mapping systems, which extract high-precision building footprints and detect year-over-year change. This foundational geospatial information is then appended with address points, latitude and longitude coordinates, and a comprehensive system of unique identifiers denoting property relationships. To date, Building-Based Geocoding comprises 176M+ buildings and 270M+ primary and secondary addresses, which Flow Flood can now integrate into their underwriting workflows by simply querying an API.

“We founded Flow Flood to provide insurance agents with a powerful platform that allows them to quote and sell more flood insurance,” said Michael Pallas, Co-Founder of  Flow Flood. “We take pride in advanced integrations, with Ecopia’s geospatial technology being a huge addition. Abbe Sultan, Co-Founder adds “We will better understand individual property flood risk, and are thrilled to incorporate Ecopia’s industry-leading Building Based Geocoding.”

“Understanding the true location of a property is still a major challenge for insurers despite its significance in calculating risk profiles,” said Matt Schmidt, Senior Associate at Ecopia. “It’s great to see Flow Flood’s commitment to solving this problem for agencies and policyholders across the US, and we are proud to provide the foundational property information as they continue to develop innovative flood insurance solutions, especially as the risk of flood events increases each day.”

For more information on Ecopia, click here. To view our HD map samples, click here.

For more information on Flow Flood, click here.

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About Flow Insurance
Flow Flood Insurance was founded by former independent agency owners who believe agents play a pivotal role in placing flood insurance. To make the agent experience as easy as possible, their flood insurance marketplace offers an easy to use platform for agents to quote, bind, and service flood insurance. No more waiting for quotes, chasing applications, or being in the dark about renewals. Interested in becoming a partner agent? 

About Ecopia AI
Ecopia is on a mission to create a digital twin of the Earth. We leverage artificial intelligence to convert high-resolution imagery into high-definition (HD) vector maps. These maps form a digital representation of reality and are embedded into decision-making applications, offering unique insight at scale. Ecopia’s HD vector maps are leveraged for hundreds of commercial and government applications across over 100 countries around the world.