on-geo by Accumin, an established player in the software market for real estate valuation, has integrated artificial intelligence (AI) into its Lora platform. This strategic development aims to significantly accelerate key processes in the creation of short valuations, particularly for the banking sector. Currently, over 600,000 short valuations are generated annually via the Lora platform. The implementation of the new AI functions has the potential to reduce the processing effort for banks and valuers by approximately 70 percent, while maintaining a high level of quality and regulatory compliance.
Mr. Hagen Schmolke, Head of Software at on-geo GmbH, commented on this development, explaining that in recent years a detailed analysis of the time-consuming and standardisable process steps in the creation of short valuations was conducted. The possibilities of modern technologies such as AI and microservices now enable the implementation of these insights. According to Mr. Schmolke, this initiative marks the next evolutionary stage for Lora short valuations.
The primary objective is to largely automate the creation of short valuations in the mass market for residential properties by the end of 2027. To this end, on-geo is expanding Lora short valuations with several specific AI functions. These include AI-supported text generation, automated recognition and classification of relevant documents, and algorithmic plausibility checks. The basis for this automation is the structured analysis of extensive datasets from documents such as land registry extracts, floor plans, and other valuation-relevant documents.
The use of AI significantly increases processing speed without compromising quality. Human expertise remains indispensable in the process. Lora prepares the majority of the short valuation at the touch of a button, freeing up capacity for professionals to review, verify, and make value-adding decisions. This interaction enables a substantial acceleration of processes without compromising professional control and regulatory security.
Mr. Matthias Knabe, Managing Director of on-geo, emphasised that automation is to be understood as a work aid. Short valuations are subject to strict regulatory requirements and must continue to be reviewed, validated, and approved by qualified experts. The implementation of AI improves the competitive advantage of customers and supports them where the technology can already be applied.
The ongoing development of Lora short valuations is a central component of on-geo's AI-supported product strategy. Earlier this year, Doku KI was introduced as an application that automatically extracts structured land registry data and prepares it for further processing within Lora. In the coming months, the focus of development work will be on further automating central valuation processes within the entire Lora product family.
