SAN FRANCISCO, August 23, 2023 – Today, ZestyAI, the leading provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced a relationship with West Bend Mutual Insurance Company to analyze property risk in their existing portfolio and enhance the inspection process.
As time passes, properties evolve and change, and as a result, their risk profiles also evolve and change. Factors such as roof condition, debris, and overgrown vegetation can significantly impact a property's risk. Using ZestyAI’s property risk analytics platform, Z-PROPERTY™, West Bend will conduct a comprehensive review of its residential portfolio, with a specific emphasis on assessing roof condition. To get a comprehensive analysis of roof quality and condition, West Bend will leverage ZestyAI’s Digital Roof™ solution within Z-PROPERTY, which is an AI-generated, 3D analysis offering unparalleled insights on roof condition, complexity, and potential points of failure.
"As a carrier, assessing the condition and ability of a roof to withstand exposure to risks like hail and wind is key to effective property underwriting," said Jonathan Schulz, AVP Personal Lines at West Bend. "The technical capabilities and roof analytics of ZestyAI provide greater perspective and efficiencies while evaluating the properties we insure."
ZestyAI‘s Z-PROPERTY platform uses computer vision and machine learning to extract insights from aerial and satellite imagery, among other unique data sources, for over 150 million residential and commercial properties. ZestyAI continuously monitors and accounts for changes in property condition, maintenance, and upgrades, enhancing the accuracy of risk assessments. Digital Roof is a suite of roof attributes and characteristics within Z-PROPERTY that go beyond roof quality to include facets, angles, penetrations, and objects for a complete view of every roof in the US.
Conducting a thorough review of a portfolio can be a time-consuming process. However, with Z-PROPERTY, insurers can easily assess their entire book of policies and identify the highest-risk properties, enabling proactive risk mitigation strategies. These portfolio reviews are simple, requiring no IT integration or setup, and are available for every property in North America.
"Insurers no longer have to accept accumulated risk or costly inspections as an inevitability,” said Attila Toth, Founder and CEO of ZestyAI. “Z-PROPERTY empowers carriers to evaluate their entire book effortlessly, pinpoint the riskiest policies, and ensure that they properly mitigate those risks."
West Bend is using ZestyAI data in its residential renewal underwriting process to provide better visibility on property condition. Trained representatives make all final decisions regarding coverage.
About West Bend Mutual Insurance Company
For over 125 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 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.
###
For more information, contact:
Linsey Flannery, Director of Communications, ZestyAI
416-939-9773