ZestyAI, a US-based InsurTech company specialising in AI-powered risk analytics for the property and casualty insurance sector, has secured a $15m credit facility from CIBC Innovation Banking.
The funding aims to bolster ZestyAI’s balance sheet and provide financial flexibility as it expands the use of its climate and property risk models. The company delivered over 31 million property risk assessments in 2024, more than doubling its 2023 volume, and is on track to exceed 50 million assessments in 2025.
ZestyAI’s platform combines climate science, property data and artificial intelligence to deliver precise, parcel-level risk insights. These tools support insurers with underwriting, pricing, inspection optimisation, and coverage expansion—especially in areas vulnerable to natural catastrophes. In 2024 alone, ZestyAI enabled the extension of coverage to over 511,000 previously uninsurable properties.
ZestyAI has also expanded significantly across the insurance landscape, securing 33 new or expanded partnerships in the past year, 26 of which were first-time clients. It has also introduced four new products to its portfolio.
Regulatory acceptance of ZestyAI’s models is also accelerating. Its AI-driven models for wildfire, severe convective storms, and non-weather water damage have now been approved in over 50 regulatory filings across the US. Recent approvals have been granted in key states such as Texas, Michigan, Georgia, and North Carolina. Notably, California’s Department of Insurance has cleared the company’s wildfire model Z-FIRE™ for continued filing without further review under the PRID process starting in January 2025.
ZestyAI founder and CEO Attila Toth said, “We’ve built ZestyAI with long-term discipline and a clear mission: to help insurers navigate changing risks with confidence.
“As demand for trusted, property-level risk insights continues to grow, this capital infusion enables ZestyAI to further invest in supporting this rapid growth and become the industry standard for property risk analytics.”
CIBC Innovation Banking managing director Sean Thompson said, “ZestyAI is addressing a critical need in the insurance industry with its AI-powered approach to property and climate risk. We’re proud to support ZestyAI’s next phase of growth as it continues expanding its platform and deepening its impact across the insurance ecosystem.”
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