Provider of insurance and reinsurance data analytics, Cape Analytics, has announced the expansion of its property intelligence solution to commercial habitational properties, to include multi-family homes, condos, and home owner associations (HOAs).
The expansion builds on its database of more than 70 million single-family homes in the U.S., and is the “first data stream of nationwide, accurate, and instantly-accessible property information for commercial habitational risk”, says the firm.
The new commercial data stream is initially being introduced as a pilot with some selected existing Cape Analytics’ customers, but is expected to be made more widely available later in 2019.
According to Cape Analytics, the new data stream enables a consistent, trusted database that provides insurers with a more efficient, instant and accurate volume of commercial property information than is currently available in the marketplace.
Cape Analytics’ Chief Executive Officer (CEO), Ryan Kottenstette, said: “Many of our existing customers also underwrite residential commercial lines, and have pulled us forward by requesting a commercial solution. By expanding our coverage type, we continue to strengthen our overall intelligence platform and build our company with a customer and solution-driven development ethos.”
Over the last 12 months, the firm has worked with regional, super regional, and national insurance companies to provide comprehensive property data, and a number of players have underlined dramatic improvements as a result of leveraging Cape Analytics’ data.
