CAPE Analytics and IBHS Collaborate to Offer Wildfire Prepared Home Designation within the CAPE Wildfire Intelligence Suite
May 18th, 2023 — Palo Alto, California — Today, CAPE Analytics, the leading AI-powered property intelligence platform, and the Insurance Institute for Business & Home Safety (IBHS) are announcing a collaboration to offer IBHS Wildfire Prepared Home™ designation status to insurance carriers who are also current IBHS members directly through the CAPE Analytics Wildfire Intelligence API. Now, insurance carriers seeking to mitigate the risks of wildfire and comply with recent California Department of Insurance regulations can access the most comprehensive property vulnerability information from a single source.
Wildfire Prepared Home is a voluntary, research-based mitigation program administered by IBHS and designed to meaningfully reduce wildfire risk to better protect homes against wildfires. Homes that meet the highest designation level have Class A fire-rated roofs, ember-resistant vents, enclosed eaves, six-inch ground clearance for exterior walls, fire-resistant windows, covered gutters and a dozen additional risk mitigation features.
CAPE Analytics provides insurance carriers with property-level wildfire risk assessments that analyze factors such as defensible space, vegetation encroachment, the distance between structures and opportunities to reduce property vulnerability. CAPE Analytics will now offer even more detailed and verified information for homes in California that are Wildfire Prepared Home compliant.
By leveraging its membership in IBHS, CAPE Analytics can instantly report which homes meet the designation to carriers who are also current IBHS members, providing them with verified data on homes that meet the standard. This information can be accessed directly through the CAPE wildfire intelligence API, enabling carriers to make more informed decisions about the properties they insure within their quoting, underwriting or pricing workflows.
“CAPE Analytics is excited to work with IBHS to provide carriers with the tools needed to reduce wildfire risk,” said Mike McCormick, Product Manager, Property Risk at CAPE Analytics. “With wildfires posing an ever-increasing threat, this collaboration between CAPE Analytics and IBHS is a critical step towards reducing the risks of wildfire-caused property damage and protecting communities across California.”
To learn more about Wildfire Prepared Home, please visit https://wildfireprepared.org/
About CAPE Analytics
CAPE Analytics is the leading provider of geospatial property intelligence. CAPE provides instant property insights for millions of residential and commercial buildings by analyzing high-resolution imagery, property records, and novel data sources using computer vision and machine learning. With a mission to better understand and protect the built environment, CAPE provides property stakeholders with risk-predictive property attributes that are more timely, accurate, and objective than on-site inspections. Comprised of insurance, real estate, and data experts, CAPE is backed by leading venture capital firms and insurance carriers. Learn more at www.capeanalytics.com
About the Insurance Institute for Business & Home Safety (IBHS)
The IBHS mission is to conduct objective, scientific research to identify and promote effective actions that strengthen homes, businesses and communities against natural disasters and other causes of loss. Learn more at ibhs.org.