LexisNexis Risk Solutions × Flyreel
LexisNexis Risk Solutions, a data and analytics provider for the insurance industry, acquired Flyreel, a property insurtech company. [44, 52] Flyreel's platform enables homeowners and business owners to conduct property inspections using their own smartphones, with AI analyzing the captured video and images to identify underwriting risks and property features. [44, 58] The acquisition complements LexisNexis's existing property data assets. [52] The terms of the transaction were not disclosed. [52]
The asset
An AI-powered platform that uses computer vision to guide policyholders through self-service property inspections via smartphone, digitizing and analyzing the data for underwriting and claims. [44, 52, 58]
The record
- Seller status
- Going concern
- Sector
- property insurtech
- Modalities
- images, video, software, AI model
- Jurisdiction
- US
What it means if you hold data
This acquisition demonstrates the increasing value of AI-driven data capture in the insurance industry. It shows a shift from traditional, manual property inspections to automated, policyholder-driven data collection, creating a new, rich stream of interior and exterior property data.