Artificial intelligence and machine learning company Cape Analytics has expanded its services with the addition of bespoke geospatial property data analytics to support insurance carriers across the Southeastern seaboard states.
The firm now offers advanced property data analytics services to an additional eight coastal states; Texas, Louisiana, Florida, Mississippi, Alabama, Georgia, South Carolina, North Carolina, and Virginia.
Cape Analytics said insurers in these States will now be able to “instantly pre-fill property information at time of quote, shorten their application processes, price policies more accurately, and reduce post-binding adjustments and cancellations.
“Additionally, reinsurers can instantly verify critical data attributes across entire candidate cedant portfolios.”
Cape Analytics’ CEO, Ryan Kottenstette, said; “We are proud to be the first company to provide accurate, up-to-date structured property information, instantly and at scale, across nine states along the southeastern coast.
“We’re able to do this thanks to a world class team and technology that leverages cutting-edge machine learning, data science, and cloud computing.
“This is a major step towards our fast-approaching goal of providing insurers and reinsurers with property data across the continental United States.”
Cape Analytics’ machine learning and data team said it will continue to expand the capabilities of its cloud-based platform, providing an on-demand data stream of high-value property features at massive scale.
For insurers, access to this data can improve agent and customer experience by streamlining the underwriting process with increased quote speed and refined accuracy.
Werner Kruck, Chief Operating Officer and Director at Security First Insurance, a Florida-based insurer, commented; “Cape Analytics’ solution provides us with instant access to validated property features at the time of quote.
“Their data and technology have been extremely valuable to our business and improving customer experience.
“We are excited to continue working with Cape Analytics as they expand their footprint and feature set across the Southeastern seaboard.”
