CAPE Analytics, a California–based provider of AI risk-assessment solutions, has partnered with American National to aid its risk management and underwriting.
Founded in 2014, CAPE Analytics aims to help residential and commercial property stakeholders access valuable property attributed instantly, by providing property intelligence across the US and Canada.
According to a report from Insurance Innovation Reporter, CAPE’s geospatial property insights will allow American National to gain a more accurate view of risk throughout the policy lifecycle, improve underwriting efficiency, and detect risk-relevant changes at renewal.
To begin with, American National will apply property attributes, such as CAPE’s gold standard Roof Condition Rating, along with other underwriting data, to policy renewals in order to improve profitability, mitigate property conditions that increase risk, and create additional workflow efficiencies.
In future, American National plans to utilise CAPE’s insights in new business underwriting workflows to assist in optimising inspection processes and better assessing new business risks.
Scott Moore, VP, Sales, CAPE Analytics, said, “We’re thrilled to announce this integration with American National, which provided their team with instant and accurate intelligence for properties across the United States.
“By leveraging CAPE’s property insights, American National will be able to better assess risk and understand portfolio evolution, which ultimately provides their insureds with appropriate protection and unparalleled service.”
Stephanie Grobin, senior VP and P&C chief underwriting officer, American National, added, “At American National, we constantly look for ways to improve the service we provide our customers. Our collaboration with CAPE Analytics gives us access to cutting-edge technology and property insights that will help us better understand and mitigate risk for our customers.”
Last year, CAPE partnered with weather technology company Canopy Weather, to launch a product for storm-related damage. The partnership between CAPE Analytics and Canopy began in 2021.
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