Heritage Insurance

Heritage Insurance

Igniting Innovation: Mastering Wildfire Risk with ZestyAI

ChallengeHeritage Insurance has long been a key player in providing insurance for properties in catastrophe-prone areas. As the carrier expanded to wildfire-prone states such as California, they discovered that the traditional methods of assessing wildfire risk lacked the granularity they needed for accurate risk segmentation. Heritage needed a more accurate method to measure and quantify the wildfire risk they were writing.

Strategic ShiftRecognizing the need for a more refined approach, Heritage embarked on a strategic shift to choose a new wildfire risk partner. ZestyAI's Z-FIRE delivered granular, property-level risk assessment with surgical precision, far surpassing the capabilities of traditional methods and legacy providers.

ImplementationThe integration of Z-FIRE into Heritage’s operations was both smooth and impactful. The underwriting team, initially accustomed to conventional methods, found the level of detail and accuracy in the data refreshing. This not only transformed Heritage’s underwriting processes but also provided a new lens through which risk was viewed and managed. The data enabled a more nuanced understanding of risks, allowing for more informed decision-making and aligning with Heritage’s risk appetite.

Outcome & FutureThe adoption of Z-FIRE enhanced underwriting accuracy and improved risk management practices. This has led to more confident decision-making, particularly in underwriting properties in fire-prone areas. The impact extended to reinsurance relationships as well, with better data driving improved terms, conditions, and pricing.

In Their Words...