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SAN FRANCISCO, September 24, 2024 – ZestyAI, the leading provider of climate and property risk analytics solutions powered by artificial intelligence (AI), has announced the expansion of its partnership with West Bend Insurance Company.
Building on their successful collaboration, West Bend will now use ZestyAI’s property risk analytics platform, Z-PROPERTY, to enhance the precision of its underwriting and renewal processes for personal lines insurance.
West Bend will now use ZestyAI’s property risk analytics platform, Z-PROPERTY, to enhance the precision of its underwriting and renewal processes for personal lines insurance.
As properties age and undergo changes, their risk profiles evolve. Factors such as roof condition, debris accumulation, and overgrown vegetation can significantly impact the risk associated with a property. ZestyAI‘s Z-PROPERTY platform uses computer vision and machine learning to analyze aerial and satellite imagery, building permits, and other unique data sources for over 150 million residential and commercial properties. This continuous monitoring of property conditions, maintenance, and upgrades allows West Bend to proactively manage risks and ensure accurate coverage for policyholders.
Leveraging verified data from various sources, including historical imagery and building permits, Z-PROPERTY provides West Bend Insurance with comprehensive coverage and precision, enhancing its ability to manage its residential portfolio effectively. This integration of advanced analytics will streamline West Bend’s underwriting process, allowing for quicker, more informed decision-making while ensuring that trained representatives make all final coverage decisions.
Jonathan Schulz, AVP Personal Lines at West Bend Insurance, said: “Our partnership with ZestyAI has significantly improved our ability to assess and manage residential property risks. By expanding our use of Z-PROPERTY for our personal lines business, we can gain deeper insights into the properties we insure, allowing us to mitigate risks more proactively and efficiently.”
Our partnership with ZestyAI has significantly improved our ability to assess and manage residential property risks.
Attila Toth, Founder and CEO of ZestyAI, said: “Conducting a thorough review of a portfolio can be a daunting task. Z-PROPERTY simplifies this process, enabling carriers to assess their entire book of business seamlessly, pinpointing the riskiest policies to ensure proper risk mitigation. The platform is easy to deploy, requiring no IT integration, and covers every property in North America.”
About West Bend Insurance Company
For over 130 years, West Bend has provided insurance coverage for home, auto, and business. West Bend develops strong relationships with its customers by providing fast and fair claim service and thorough underwriting and loss control services. Today, over 1,500 independent insurance agencies in 15 states represent West Bend.
About ZestyAI
ZestyAI is the leading property and climate risk platform for Property and Casualty insurers in North America. The company has revolutionized the world’s understanding of property and climate perils by combining artificial intelligence with historical losses and cutting-edge data sources. Leading insurers and real estate companies trust ZestyAI’s platform to identify risk and assess exposure, including the impact of catastrophic events like wildfires, hail, and wind storms. ZestyAI helps insurers make more informed underwriting decisions, rate fairly and accurately, enhance reinsurance outcomes, and improve customer experience through actionable risk insights that both property owners and regulators trust.
For more information on how ZestyAI is revolutionizing risk management, visit www.zesty.ai.
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For more information, contact:
1-650-999-9900