AUSTIN, Texas – Feb. 26, 2020 – PRLog — PicPocket-Labs (“PicPocket”) is pleased to announce that it has been awarded European Patent No. 3192040 in the UK, Germany, France, Switzerland and Sweden for “Systems and Methodologies for Validating the Correspondence Between an Image and an Asset.” The application is currently pending in the US, Canada and Australia.

The patent pertains to verifying that photos/videos sourced to provide an asset comparison are both current (date/time-wise) as well as belonging to a suitable candidate pool (by location) – useful in markets including, but not limited to, real-estate appraisals, commercial underwriting and home and building inspections – more generally, in the purchase, sale, financing and insuring of physical asset classes.

“PicPocket’s geofencing-based, content verification technology assures lending institutions and insurers that the images appraisers use to establish comparables, which adjusters and policyholders use to resolve claims and from which appraisers and inspectors may establish an asset’s residual worth, represent an asset in good faith” explains Wolfram Gauglitz, President and CEO of PicPocket-Labs, Inc. “By using location information not just to validate when and where media was captured, but also to make an informed association from which to compel an apples-to-apples comparison, the ability of a geofence to limit the population of like assets from which to source appropriate comparables from, provides another tool for insurance carriers and mortgage lenders.”

PicPocket-Labs, Inc. is an early pioneer in geofencing and location-based IT solutions with offices in Austin and Dallas, TX. The company holds seminal patents for the real-time, capture, aggregation and curation of media/data using geofencing and offers a robust API and mobile SDKs for cloud-service providers and third-party integrations.

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