The Hartford Partners With CAPE For Geospatial Property Analytics
Today, Cape Analytics is announcing that The Hartford, a leading national property and casualty insurer, has partnered with Cape Analytics to obtain comprehensive, predictive and accurate artificial intelligence (AI)-based property information for use at time of quote and renewal. Cape Analytics’ imagery and AI-based solution will help supplement The Hartford’s home inspections, providing the company with new insights about the properties it insures.
“We continue to invest in technology that helps streamline our processes and improve our customer service,” said Ben Rhodes, head of homeowner’s product at The Hartford. “The modern capabilities and data provided by Cape Analytics helps provide additional insights about a home, such as roof condition, shape and material, which helps enhance the evaluation of the risks we insure.”
Cape Analytics’ property intelligence solution is derived by applying cutting-edge computer vision and machine learning algorithms to geospatial imagery. It 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. This includes a targeted selection of rigorously developed property attributes and loss-predictive signals such as Roof Condition Rating. These innovations are possible due to Cape Analytics’ global team of computer vision and data science PhDs, paired with insurance and risk analysis experts.
“The Hartford has been a tremendous partner for us as they lean into the use of our innovative data sources,” said Ryan Kottenstette, CEO at Cape Analytics. “We look forward to deepening our relationship with The Hartford’s outstanding team as we continue to work hand-in-hand on extending our real-time intelligence solutions.”
In 2018, The Hartford invested Series B funding to help Cape Analytics expand its sales and AI-centric product development teams.