ZestyAI, a company that leverages artificial intelligence (AI) for risk assessment, has announced its partnership with Florida Peninsula Insurance Company, integrating ZestyAI’s Z-PROPERTY Location Insights solution to enhance underwriting precision and elevate customer experience.
ZestyAI’s advanced property analytics solutions employ cutting-edge computer vision and machine learning technologies to extract valuable insights from diverse data sources, including aerial and satellite imagery, tax assessments, building permits, and infrastructure data.
Florida Peninsula intends to harness Z-PROPERTY Location Insights to conduct a thorough assessment of roof quality for over 150 million residential and commercial properties.
This solution offers precise property data on parcels and structures for all US properties instantly, eliminating the need for physical inspections. It identifies high-risk features like roof conditions, swimming pools, trampolines, lot debris, and overhanging vegetation, facilitating precise underwriting and enhancing transparency for customers and reinsurers.
By leveraging these insights, Florida Peninsula aims to deepen its understanding of property-level risk within its homeowners’ portfolio in Florida, thereby enhancing underwriting accuracy and ultimately improving the customer experience.
Gard Olbers, Chief Risk Officer at Florida Peninsula Insurance Company, emphasises, “Taking a data-driven, highly analytical approach has always been a cornerstone to the way we do business at Florida Peninsula.”
“With ZestyAI, we found a like-minded, agile and highly innovative partner that provides us with more data insights than ever before. This partnership will provide a positive customer experience for all the Floridians we serve,” Olbers adds.
Attila Toth, Founder and CEO of ZestyAI, notes, “We have been impressed by the steady growth of Florida Peninsula Insurance in the complex Florida insurance market over the past five years.”
“Our commitment is to deliver at least ten times return on investment from this partnership through enhanced underwriting, operational efficiency, and customer and agent satisfaction,” Toth concludes.
