Sep 09, 2020

Florida Peninsula Insurance Selects Cape Analytics for Aerial Underwriting and Portfolio Monitoring Intelligence

 

Cape Analytics provides leading Florida insurer with remote property assessment capabilities that keep agents, customers, and properties safe

Cape Analytics, the leading provider of AI-powered property information, and Florida Peninsula Insurance, a top-10 Florida homeowners insurance company, are partnering to bring Florida homeowners affordable, efficient, and comprehensive insurance coverage using state-of-the-art technology. Florida Peninsula is using Cape Analytics geospatial intelligence solutions to streamline its underwriting processes by using technology to perform roof inspections, without needing to step foot on a homeowner’s property. This new service will offer a more convenient experience by eliminating the need for customers to be present at the time of inspection.

Florida Peninsula is using Cape Analytics’ geospatial data, such as Roof Condition Rating, roof geometry, and roof covering material, to help validate important rating data elements and reduce unnecessary inspections. The integration of this information provides new Florida Peninsula customers with a more seamless experience at the time of quote. Florida Peninsula is also monitoring property changes in order to alert current customers to changing conditions of their home while suggesting proactive steps that can be taken to mitigate risk and keep their most valued asset safe and insurable.

“Florida Peninsula’s evaluation of geospatial imagery providers was very thorough,” said Mike Koscielny, Director of Underwriting, Florida Peninsula. “Finding the right partner who understood property issues through the lens of underwriting was critical to our selection of Cape Analytics. Our partnership with them has been exceptional and we feel we have a voice in their current offerings and future development.”

“After a deep, collaborative workflow evaluation process, we are thrilled to partner with Florida Peninsula Insurance and provide them with a new form of granular property condition information,” said Scott Moore, AVP of Sales at Cape Analytics. “We look forward to growing our close partnership with the Florida Peninsula team while continuing to optimize the inspection process and reduce avoidable losses.”

Cape Analytics is the only geospatial AI solution available that offers comprehensive and accurate intelligence at time of quote, with the speed and breadth necessary to fundamentally improve underwriting processes across the policy lifecycle. Cape Analytics’ innovative method for assessing properties allows for more accurate policy pricing, a streamlined customer experience, and proactive risk mitigation via automated change detection of property characteristics over time.

Cape Analytics’ property intelligence is derived by applying cutting-edge computer vision and deep learning algorithms to geospatial imagery. Cape Analytics covers 110 million buildings across the United States and can provide actionable, risk-relevant property information to customers for nearly any property in the country. This information includes new loss-predictive data points such as Roof Condition Rating, roof geometry, roof tree overhang, and parcel vegetation coverage, which are proven to dramatically impact a property’s risk profile.

About Cape Analytics

Cape Analytics was established in 2014 to revolutionize the way property information is created and used. The company leverages geospatial imagery, computer vision, and machine learning to instantly and automatically extract proprietary property data for insurance carriers and other property stakeholders. Cape Analytics establishes a new category of property data, offering immediacy and coverage comparable to pre-filled data, but with accuracy and detail that previously required time-consuming in-person inspection reports. Cape Analytics seamlessly integrates into carrier quote engines via API.

About Florida Peninsula Insurance Company

Founded by a team of veteran insurance professionals, Florida Peninsula Insurance Company is one of Florida’s top 10 largest companies offering multi-peril homeowners and flood insurance. The company insures approximately 150,000 homes, condo and apartment units located throughout the state. Florida Peninsula markets through a network of 2,500 independent insurance agents. Our aim is to combine the latest technology with old-fashioned courtesy and customer service, providing efficient, cost-effective, peace-of-mind protection for our policyholders. Florida Peninsula was first issued a Certificate of Authority to do business in April 2005 by the Florida Office of Insurance Regulation. The company has maintained a Financial Stability Rating® of A-Exceptional from Demotech. For more information or to get a comparison quote, please call (877) 229-2244 or visit our website at www.floridapeninsula.com