Neural Earth, a provider of artificial intelligence data analytics for property/casualty insurance, announced the close of its oversubscribed $1.4 million pre-seed funding round.

The tech company leverages both open and proprietary data sources, including advanced geospatial imagery analytics. Working with partners in the insurance space, the company is providing the tooling to navigate the climate risk landscape and aims to enhance operational efficiency, improve risk identification accuracy, and reduce insurance fraud.

“Our aim is to develop a scalable geospatial infrastructure that serves various industries,” said Neural Earth Chief Technology Officer Dan Lopez in a company press release. “Our platform’s strength lies in its ability to process, interpret, and link a wide array of data sets, leading to systematic quantitative forecasting capabilities.”

Neural Earth’s approach combines proprietary data analytics with an AI enterprise platform solution and offers a comprehensive suite of tools that utilize algorithms to analyze economic, population, and environmental data. This offers property/casualty insurance underwriters a proprietary scoring system, allowing for real-time risk assessment.

Key features of Neural Earth’s platform include advanced algorithms to sift through decades of data, a proprietary scoring system tool for underwriters to evaluate risk, and algorithms that provide detailed insights.

“Our goal is to revolutionize industries with data, using today’s most advanced technology to uncover insights on a micro and macro scale, far beyond current practices,” said CEO Austin Childs in the release. “The potential for what we can achieve is only beginning to unfold.”

Source: Neural Earth