CAPE Analytics Announces Partnership with Google Cloud to Scale Property Risk Management and Valuation Capabilities
CAPE will develop and serve its analytics on Google Cloud’s secure and sustainable infrastructure
Palo Alto, Calif. (March 22nd, 2023) – Today, CAPE Analytics, a leader in AI-powered geospatial property intelligence, is pleased to announce its partnership with Google Cloud to develop predictive analytics that enhance risk management for insurance carriers and property valuation solutions for the real estate and mortgage industries. Through the collaboration, CAPE will leverage Google Cloud’s secure cloud infrastructure and its machine learning technology to develop and serve innovative property analytics at scale. Together, CAPE and Google Cloud can deliver an objective and instantly available source of property information that supports a more accurate understanding of risk and value, and ultimately allows insurance carriers to better protect their customers.
In 2022 alone, there were 18 weather events with losses exceeding $1 billion each. To safeguard homes and businesses, insurers need access to accurate and timely property insights that help them predict risk. Using its own proprietary AI and analytics built on best-in-class data, CAPE will be able to provide risk-predictive insights into roof condition, building materials, construction, and vegetation on a property, in addition to weather-focused risk scores for wildfire, hail, and wind.
“We see cloud as a key enabler for innovation at pace and scale across the insurance value chain,” said Zac Maufe, managing director, Global Financial Services Solutions, Google Cloud. “Bringing the CAPE Analytics platform to Google Cloud helps insurers to unlock unprecedented insights and improve risk mitigation by accessing CAPE’s property analytics data and capabilities on a more secure and sustainable cloud infrastructure, and by utilizing leading cloud AI and ML capabilities.”
“Our partnership with Google Cloud gives us an advanced, secure, and sustainable platform on which to build innovative property insights for the insurance industry,” said Ryan Kottenstette, CEO and Founder of CAPE Analytics. “By combining CAPE’s leading machine learning and computer vision capabilities with Google Cloud’s industry-leading cloud platform, we can empower property insurers and their customers with high-quality information about current property vulnerability, and help them identify more effective methods for reducing those vulnerabilities.”
About CAPE Analytics
CAPE Analytics provides instant property intelligence for buildings across the United States and Canada. CAPE Analytics enables residential and commercial property stakeholders to access valuable property attributes instantly, with the accuracy and detail that typically requires an on-site inspection, but with unparalleled immediacy and global scale. Founded in 2014, CAPE Analytics is backed by leading venture capital firms and insurers and is comprised of machine learning, data infrastructure, and property risk experts.