NEW YORK, Sept. 22, 2021 /PRNewswire/ — True Flood Risk, ("True Flood Risk" or "the Company") an AI-driven climate risk analytics solution for flood risk, today announced the Company has been awarded patent number, US11,120,557, issued by the U.S. Patent and Trademark Office (USPTO) for its system and method for detecting objects in images used to determine property-level structural elevation or first floor height. The patent enables users to instantly and accurately count steps and estimate the structural height of commercial and residential properties using digital images as a cost and time effective alternative to property inspections.
"This patent confirms the uniqueness of True Flood Risk’s core technology and represents a ground-breaking step forward in helping local communities, floodplain managers, insurers, property owners and renters to better understand, mitigate and price flood risk" said Shelly Klose, founder and CEO of True Flood Risk. "Historically, flood maps and models examined the horizontal plane of flooding but didn’t factor in how different levels of flooding would impact a specific building. Today, True Flood Risk’s patented technology is helping to enrich existing tools to provide a more accurate, granular and complete view of flood risk."
"We’re excited to see that True Flood Risk, a 2021 RISE Coastal Community Resilience Challenge winner, was awarded a patent for its first floor height estimator. First Floor Height or Lowest Floor Elevation is crucial missing data that will help optimize flood mitigation strategies not only in the United States but across the globe. We look forward to working with True Flood Risk to apply its technology in the Hampton Roads region of Virginia" said Paul Robinson, executive director of RISE, a non-profit resilience innovation hub supported by the Commonwealth of Virginia Department of Housing and Community Development to develop and promote innovative resilience technologies in the Hampton Roads region of Virginia.
As previously announced, True Flood Risk intends to integrate its newly patented technology throughout its property level flood risk assessment platform, flash flooding simulations and cost-benefit analysis tools to help provide more precise and optimal strategies for pricing flood insurance and mitigating flood risk on a local property level and community basis.
About True Flood Risk
Think Geohazards, Inc. d/b/a True Flood Risk is mission driven company pioneering the next generation of geolocation intelligence for flood risk. Launched in 2017, True Flood Risk is a property risk management solution that provides instant property analytics, flood risk and cost-benefit reports to accelerate climate resilience for over 250M properties worldwide. For more information visit www.TrueFloodRisk.com.
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SOURCE True Flood Risk