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SAN FRANCISCO, August 3, 2023 – ZestyAI, the leading provider of climate and property risk intelligence powered by AI, has been recognized as a top 50 insurtech and leader in climate and property risk analytics solutions by CB Insights. ZestyAI's inclusion in this select group highlights the significant impact the company has had in delivering valuable climate and property risk analytics solutions to leading insurers.
The CB Insights research team picked the 50 leading players from a pool of over 2000 companies. They were chosen based on CB Insights data — including R&D activity, Mosaic scores, business relationships, Yardstiq transcripts, investor profiles, news sentiment analysis, competitive landscape, and team strength — and criteria such as tech novelty and market potential.
“Climate risk is reaching new levels of urgency. Globally, insured losses of more than $100 billion per year from natural catastrophes has become a given,” said Attila Toth, Founder and CEO of ZestyAI. “AI has a very big role to play as the insurance industry evolves and adapts to climate risk. ZestyAI is delivering at least ten times return on investment for our insurance carrier partners in North America."
ZestyAI is delivering at least ten times return on investment for our insurance carrier partners in North America.
ZestyAI is delivering at least ten times return on investment for our insurance carrier partners in North America.
As extreme weather events, such as wildfires, severe storms, hurricanes and flooding have increased in frequency and severity, the property and casualty insurance industry has been crippled with skyrocketing losses. In response, forward-thinking insurers are increasingly turning to AI as a crucial tool to assess risk and mitigate these losses. Often decades old traditional risk models haven’t been able to accurately predict risk, leaving both insurers and property owners vulnerable.
Through harnessing the immense computing power of the cloud and leveraging cutting-edge AI and machine learning techniques on unique data sources, such as aerial imagery, ZestyAI offers precise modeling that shows how exposed properties are to potential damage. By analyzing specific characteristics like roof complexity, quality, and building materials, ZestyAI delivers comprehensive data-driven insights to assist clients in navigating climate and property risks effectively. ZestyAI’s AI climate risk models are trained on actual losses and rooted in science, generating a far more accurate picture of risk insurers can trust.
Additionally, ZestyAI models offer transparency into risk mitigation and pricing. With ZestyAI, carriers can share the results of risk models with their customers to educate them on the drivers of risk and specific actions that can be taken to lower their property's risk exposure. The result is transparency in pricing and risk and empowering homeowners to take an active role in mitigation, and ultimately lowering losses.
ZestyAI's recognition by CB Insights showcases its industry leadership and dedication to revolutionizing climate and property risk analytics. ZestyAI continues to grow its client base, partnerships, and its climate risk models, driving innovation and shaping the future of the insurance and real estate markets.
About ZestyAI
ZestyAI delivers precise intelligence on every property in North America to insurers and real estate companies. The company uses AI, including computer vision, to build a digital twin for every building across the country, encompassing 200 billion property insights accounting for all details that could impact a property’s value and associated risks, including the potential impact of natural disasters. Visit zesty.ai for more information.
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For more information, contact:
Linsey Flannery, Director of Communications, ZestyAI
416-939-9773