First American launches ParcelPoint to increase accuracy of addresses for geo-applications

First American launches ParcelPoint to increase accuracy of addresses for geo-applications
The First American Corporation (NYSE: FAF), announced today the release of ParcelPoint™. This database offers a new level of accuracy in matching addresses with their exact geographical position on the map. ParcelPoint technology, which relies on real property latitude and longitude coordinates, combines the company’s extensive parcel and address information database with its proprietary analytical models to render accurate location identification.

Today’s navigation and location solutions typically use address ranges rather than specific property data to identify properties. These solutions develop an “intelligent guess” about where a street address may be, based on the assumption that properties are evenly spaced and use conventional numbering systems. However, when streets use unconventional numbering, aren’t evenly spaced, or contain empty lots, current geographic location systems may yield inaccurate results. This is for example the case at our office. The location displayed on the map, on Google Maps or Mapquest (both powered by Navteq) is about 4 houses away from where we really are… and it is exactly the same with a GPS navigation system powered by TeleAtlas.

"Through our work for the Flood and risk businesses, we have established relationships with municipalities, counties and states to get all kinds of property data. Using this information, we have developed the largest Parcel and Point database in the industry to support this business," said Mike Swartz, CIO for First American Flood. "First American's ParcelPoint technology utilizes this national land parcel database, which allows us to combine both parcel and address information with exact latitude and longitude to more accurately identify locations than our competitors."

First American is ready to provide partners access to its current data set which will achieve coverage for the majority of the United States population by the end of 2007, with a goal of having 80 percent of the nation’s parcels mapped by the end of 2008.

Monday, April 16th 2007

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases