West Bend Insurance, a personal lines insurer, has expanded its collaboration with ZestyAI, a leader in climate and property risk analytics.
This partnership aims to utilise ZestyAI’s innovative artificial intelligence platform, Z-PROPERTY, to elevate the accuracy and efficiency of West Bend’s underwriting and renewal procedures for personal lines insurance.
ZestyAI specialises in the application of AI to property and climate risk analytics. Their platform, Z-PROPERTY, uses machine learning and computer vision to analyse a wide range of data sources, including aerial and satellite imagery and building permits. This technology allows for continuous monitoring and assessment of over 150 million properties, enabling insurers like West Bend to adapt to evolving risk profiles linked to property conditions and maintenance.
Similarly, West Bend Insurance leverages this technology to refine its approach to property underwriting. The integration of Z-PROPERTY into their processes helps in streamlining operations, allowing for faster and more informed decision-making. The technology ensures that West Bend can maintain high precision in coverage decisions, backed by robust data analysis.
Jonathan Schulz, AVP Personal Lines at West Bend Insurance, highlighted the benefits of this collaboration: “Our partnership with ZestyAI has significantly improved our ability to assess and manage residential property risks. By expanding our use of Z-PROPERTY for our personal lines business, we can gain deeper insights into the properties we insure, allowing us to mitigate risks more proactively and efficiently.”
Attila Toth, Founder and CEO of ZestyAI, commented on the functionality of their platform: “Conducting a thorough review of a portfolio can be a daunting task. Z-PROPERTY simplifies this process, enabling carriers to assess their entire book of business seamlessly, pinpointing the riskiest policies to ensure proper risk mitigation. The platform is easy to deploy, requiring no IT integration, and covers every property in North America.”
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