ZestyAI, a provider of climate and property risk analytics services powered by artificial intelligence, partnered with CSAA Insurance Group for wildfire risk assessment. To help gauge property-level wildfire risk, CSAA plans to integrate ZestyAI’s Z-FIRE into underwriting and rating processes for homeowners insurance.
Z-FIRE provides wildfire risk scores for all properties in 48 U.S. states. It is expected to be offered in several CSAA markets.
ZestyAI offers insurers and real estate companies access to intelligence about properties in North America. The company uses artificial intelligence, including computer vision, to build a digital twin for buildings across the country, encompassing 200 billion property insights accounting for details that could impact a property’s value and associated risks, including the potential impact of natural disasters.
CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners and other personal lines of insurance to AAA Members through AAA clubs in 23 states and the District of Columbia. Founded in 1914, the company is a personal lines property/casualty insurance group in the U.S.
Specialist insurer Beazley has partnered with Assureful to offer a usage-based liability insurance service for e-commerce companies.
Assureful, which worked with Beazley’s Incubation Underwriting team to create this new insurance service, has also been appointed as a Lloyd’s coverholder. The service is initially available nationally in the U.S.
Assureful uses natural language processing and machine learning to convert live sales data into a single, structured record, from which usage-based, monthly premiums can be calculated. The technology also allows policyholders to gain sales analysis across their marketplaces and platforms.
Corvus Insurance, a specialty insurance managing general agency offering smart commercial insurance products powered by artificial intelligence-driven risk data, partnered with The Travelers Companies Inc., a provider of personal, business and specialty insurance, to back its Smart Cyber Insurance offering.
The venture will provide cyber insurance products and services to companies in continental Europe and follows the recent opening of the company’s Frankfurt, Germany, office, overseen by Oliver Delvos, head of international at Corvus.
Subject to regulatory approval, the European expansion of Corvus’s Smart Cyber Insurance offering will initially be geared toward small- and medium-size enterprises and middle market businesses with annual revenues up to EUR 1 billion.
This new offering will focus primarily on Germany and Austria, providing brokers and policyholders with localized cyber insurance tools, along with the combined cyber underwriting expertise of both Corvus and Travelers. As part of its long-term growth strategy in Europe, Corvus will continue to expand its international business, opening additional offices across the continent, according to a company press release.
Sources: ZestyAI, Beazley, Corvus Insurance