2026-08-17 · Source: Insurance News Australia
Summary in 3 Points • Geoscape Australia is advocating for council access to a national buildings data set • The data set is an AI-driven digital twin of 19 million Australian buildings • Access could cost the federal budget about $5 million annually --- Geoscape Australia is pushing for local councils to gain access to a comprehensive national buildings data set, described as an AI-driven 'digital twin' of Australia's 19 million buildings. This initiative was presented by Geoscape's CEO, Dean Capobianco, during a parliamentary inquiry in Canberra. The data set is intended to enhance infrastructure planning, emergency management, and disaster recovery by providing detailed information on building-level risks, such as flooding. Geoscape argues that this access would allow councils to make more informed decisions regarding housing, infrastructure, and climate resilience. The proposal suggests that this access could be integrated into the 2026-27 federal budget, with an estimated cost of $5 million per year to the federal budget.
For the London insurance market, the availability of a digital twin for Australia's buildings could offer valuable insights into risk assessment and underwriting processes. Access to detailed data on building exposure to natural hazards may enhance the accuracy of risk modelling and pricing for Australian property insurance. Additionally, this initiative could set a precedent for similar data-driven approaches in other countries, potentially influencing global insurance practices. London Market insurers may consider advocating for similar data access in the UK to improve their own risk management and policy offerings.