State Auto Insurance Chooses Cape Analytics to Deliver AI-Based, Aerial Property Intelligence
Cape Analytics’ offering allows State Auto to improve underwriting decisions, risk selection, and customer experience
Today, Cape Analytics is announcing State Automobile Mutual Insurance Company (State Auto), a leading digital provider of property and casualty insurance, is now a fully-deployed Cape Analytics customer. State Auto is using the Cape Analytics product as a property intelligence solution for its homeowner insurance offering, in order to make better risk decisions, improve customer experience, and streamline underwriting.
Cape Analytics is providing State Auto with the most comprehensive, timely, and accurate property information available, by leveraging aerial imagery and breakthrough artificial intelligence. The integration of Cape Analytics into State Auto’s insurance workflow is one part of State Auto’s mission to provide the best possible digital experience to its agents and customers. With Cape’s addition to the State Auto technology platform, State Auto customers can continue to expect competitive and accurate policy pricing, while allowing agents to ask homeowners fewer time-consuming questions when providing a quote.
“Our partnership with Cape Analytics has helped us gain confidence in our fully automated underwriting process, by providing us new insights into the homes we’re insuring,” said State Auto President and CEO Mike LaRocco. “As a result, independent agents are able to spend more time offering the advice and counsel that makes them so valuable.”
“After working together very closely, we are thrilled that State Auto is a fully deployed customer and has found value in Cape Analytics’ property intelligence solution,” said Ryan Kottenstette, CEO at Cape Analytics. “Our risk-relevant information can empower insurers to reimagine how they run their business, improve customer experience, and even help them enact innovative practices like automated underwriting or pre-underwriting regions for proactive risk selection.”
Cape Analytics is the only solution available that offers comprehensive and accurate intelligence at time of quote, with the speed and breadth necessary to fundamentally improve underwriting processes. With Cape, State Auto can now instantly access contextualized intelligence related to their portfolio as well as comparative property data at the local and national level.
Cape Analytics’ property intelligence is derived by applying cutting-edge computer vision and deep learning algorithms to geospatial imagery and includes a targeted selection of rigorously-developed property attributes and loss-predictive signals such as Roof Condition Rating. This innovative offering is possible due to Cape Analytics’ global team of computer vision and data science PhDs, paired with leading industry expertise related to property risk.
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 State Auto
State Automobile Mutual Insurance Company, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company. The company is primarily engaged in writing personal and business insurance products exclusively through independent insurance agencies in 33 states and is proud to be a Trusted Choice® company partner.
State Automobile Mutual is part of the State Auto Group, which is rated A- (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Financial Corporation, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security, Patrons Mutual, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information can be found online at www.StateAuto.com.