ZestyAI Honored with People’s Choice Award for Most Innovative Insurtech Startup at Plug and Play’s Summer Summit 2018
Jun 20, 2018 | 2 min Read
ZestyAI, an Artificial Intelligence-enabled risk analytics platform for Property and Casualty insurance, was honored with the People’s Choice Award for the Insurtech vertical of Plug and Play’s Summer Summit. ZestyAI leverages the latest advancements in computer vision and deep learning on 115 Billion data points on residential and commercial properties to model key risk factors for loss events, such as hurricanes, floods, wildfires among others.
Over 400 executives hailing from five Continents representing more than 200 insurance and reinsurance companies attended the Summit last week in Palo Alto, CA.
Plug and Play launched its Insurtech program in 2016 with the mission to connect emerging Insurtech startups to the world’s leading insurance institutions. More than 80 worldwide insurance companies have become members of the prestigious program that has accelerated more than 100 Insurtech startups and invested in the most promising ones, including ZestyAI.
ZestyAI was one of only 32 startups selected for the Insurtech Summer 2018 program out of over 1,000 that applied. The program culminated at Plug and Play’s Summit where ZestyAI was named as the most innovative startup based on the votes of the participating insurance executives.
“We are humbled by winning this award!” said Attila Toth, co-founder and CEO of ZestyAI. “We are grateful to Plug and Play for giving us an unparalleled global platform for putting our product and business development on steroids. As a result, in the past six months we have launched several new product features and partnered with fifteen leading insurance and reinsurance companies.”
“Lack of access to reliable data on property and the insured is a very real pain point for the trillion dollar global property insurance industry. ZestyAI’s experienced team is applying AI to solve exactly that,” said Ali Safavi, head of Plug and Play Insurtech. “As also proven by this award, ZestyAI’s product was met with great excitement by our member organizations and that is why we have decided to invest in the company.”
“Lack of access to reliable data on property and the insured is a very real pain point for the trillion dollar global property insurance industry. ZestyAI’s experienced team is applying AI to solve exactly that,” said Ali Safavi, head of Plug and Play Insurtech. “As also proven by this award, ZestyAI’s product was met with great excitement by our member organizations and that is why we have decided to invest in the company.”
About ZestyAI
ZestyAI is the leading partner for property & casualty insurance companies embarking on digital transformation. The company harnesses the power of artificial intelligence on cutting-edge data sources including aerial imagery to model risk to real property. ZestyAI leverages predictive algorithms on 130+Bn data points to understand the potential impact of natural catastrophes on individual properties with unprecedented accuracy. Insurance companies rely on these property risk insights to make smart marketing, underwriting and rating decisions. For more information, visit https://zesty.ai.