ZestyAI

Intra-territory risk splitting: why two neighboring homes can have vastly different risk profiles! Two homes, side by side, may face the same weather and rely on the same water sources—but their risk for non-weather water claims can vary significantly. Hear from Robert Silva, ACAS, on how details like home maintenance, number of bathrooms, open floor plans, and even where the laundry is located all factor into unique risk assessments for each property. Catch the full insights in our webinar, now available on-demand: https://bit.ly/3TyCSKL

🚀 Excited to read "Modernizing the Global Insurance Industry: Embracing AI for a Competitive Edge" and honored that ZestyAI is listed among the "Top Cool New AI Vendors" shaping the future of insurance! As highlighted, the global AI insurance market is set for explosive growth—from $4.59B in 2022 to nearly $80B by 2032, with a compound annual growth rate (CAGR) of 33%. This rapid expansion is driven by the need to manage risks more effectively, increase operational efficiency, and offer customer-centric experiences. The article dives into why AI, machine learning, and predictive analytics are essential for insurers looking to stay competitive and deliver innovative solutions. From streamlining claims to more precise risk assessment, AI is transforming every facet of the insurance landscape. #AI #Insurtech #DigitalTransformation #InsuranceIndustry #Innovation

We're thrilled to be included in Everest Group's report on the Leading 50™ Property & Casualty (P&C) Insurance Technology Providers! It's an honor to be recognized in two categories of the report: Emerging Risks Intelligence and Assessment (Climate) and Risk Intelligence for Property Insurance. Read the full report and watch the live stream on how insurance leaders are adopting AI technologies to improve operations, enhance the customer experience, and solve the industry's most pressing challenges.

Our partnership with Donegal Insurance Group is a major step forward in transforming how the industry leverages AI to manage risk. Thank you to Insurtech Insights for the feature! Read more: https://lnkd.in/gFYqEteu

ZestyAI Roof Age Is a ‘Clear Choice’ for Donegal Insurance Group! 🏡 We’re excited to announce our partnership with Donegal, which has chosen ZestyAI’s Roof Age solution to enhance property risk assessments for its Personal Lines portfolio. By accurately determining roof age with over 90% accuracy and nearly 100% coverage across the contiguous U.S., Donegal can now make more confident underwriting and rating decisions. Roof claims are the top driver of insurance losses, and we’re proud to support Donegal in mitigating this risk by using both building permits and historical imagery data. Learn more about how AI is shaping the future of property risk: https://lnkd.in/gzf_T_iD #insurance #riskassessment #AI #insurtech #RoofAge #DonegalInsurance #ZestyAI #partnership

Recently, ZestyAI commissioned Milliman to conduct independent research to assess the efficacy of our Z-HAIL model. The analysis showed that over a period of seven years, properties with a Z-HAIL score of 10 had a reported loss ratio of 50.4% compared to only 2.4% for properties with a Z-HAIL score of 1, corresponding to a loss ratio lift of 21X. For the complete study, click the link: https://bit.ly/3Vcub8I #hail #insurtech #insurance #ZestyAI

Is your AI program Regulatory Ready? 🚀 Join us for an engaging webinar featuring Vermont Commissioner and NAIC Chair Kevin Gaffney! Explore how AI is transforming the insurance landscape—from risk assessment to improving customer experience. What you can expect: 🔍 Insights into the NAIC Bulletin's guidelines for ethical AI implementation 💡 Practical strategies for carriers to navigate regulatory challenges 📊 Best practices to ensure transparency and explainability when working with third-party vendors Don’t miss this chance to learn from industry experts and position your company for success in today’s complex regulatory environment! Secure your spot now! https://bit.ly/3TY9Vb6

Exciting times at #ITCVegas! 🎉 We're reconnecting with old friends, forging new relationships, and diving into insightful conversations about bringing trusted AI innovation to insurance. If you're attending, swing by Booth #2638 to see how our AI solutions are transforming risk management and shaping the future of the industry. Looking forward to seeing you there!

🔴 Live from #InsurtechConnect 2024! The energy here is incredible, and ZestyAI is excited to be in the spotlight! Stop by Booth 2638 to discover how we’re transforming property risk assessment with AI-driven, peril-specific models. Our platform is supercharging insurers’ business models, driving down loss ratios, and enabling market expansion. From wildfires to storms to water risks, ZestyAI is helping carriers tackle the future of risk management with AI precision. Don’t miss the opportunity to connect with us and see how we’re bringing trusted AI innovation to insurance! #Insurtech2024 #AIinInsurance #ClimateRisk #InsuranceInnovation #InsurtechConnect

New Research: AI-Powered Risk Insights Give Insurers a Competitive Advantage According to our latest findings, carriers that adopt AI-driven tools like Z-FIRE are pulling ahead by improving the accuracy of their rating and underwriting processes. Those relying on traditional methods are left to underwrite the highest-risk properties without sufficient data to back their decisions. Here’s what we discovered: 💲 AI insights lead to better outcomes: Carriers leveraging AI can assess risk with unprecedented accuracy, allowing them to price policies more effectively and reduce losses. 🔥 Adverse selection is real: As more carriers adopt AI, those who don’t are increasingly exposed to high-risk properties, leading to higher loss ratios and missed opportunities with lower-risk customers. 🎯 Tailored pricing is key: AI tools allow for more precise risk differentiation, attracting lower-risk customers with competitive premiums while ensuring high-risk properties are priced accordingly. The bottom line? Carriers that embrace AI will gain the upper hand, navigating challenges like adverse selection while enhancing their bottom line. Read more about how AI is transforming risk management at ZestyAI. #Insurance #AI #RiskManagement #Underwriting #AdverseSelection #ZestyAI #Innovation