May 20, 2025 - Property intelligence provider Nearmap announced that it is acquiring itel, an independent provider of property claims solutions.
In a statement, Nearmap CEO Andy Watt said, "This acquisition is transformative for property insurance. We have long admired the itel brand and by bringing our two companies together, we are combining the best of property intelligence and ground-truth data to create a true end- to-end solution that meets the most critical data needs across insurance claims and underwriting."
Working together, Nearmap said, the two companies will now be able to “provide customers and partners with a single, independent source of underwriting and claims insights across property portfolios, delivering value through faster claims processing, smarter claims settlement decisions, proactive risk mitigation, and defensible outcomes.”
Completion of the deal is expected in Q2 2025.