Cape Analytics Expands AI-Powered Property Intelligence Solution with New Commercial Offering

Company launches pilots with select insurance carriers; building
first data stream of nationwide, accurate, and instantly-accessible
property information for commercial habitational risk

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Today, Cape Analytics is announcing the expansion of its market-leading
property intelligence solution to commercial habitational properties.
The expansion builds on Cape Analytics’ database of 70 million
single-family homes in the U.S., to include multi-family homes, condos,
and HOAs. Currently, most sources of property information are bespoke
and do not offer the depth or accuracy of data required by an insurance
carrier to underwrite commercial risks. Rather than a consistent,
trusted database, insurers are forced to deal with fragmented, time
consuming, and resource-intensive solutions like in-person inspections
or out-of-date tax records. To solve this issue, Cape Analytics is
introducing the world’s first reliable data stream of instant and
accurate commercial property information.

In the last year, Cape Analytics has worked with regional, super
regional, and national insurers to bring them the most comprehensive and
timely property data available. The solution has dramatically improved
insurers’ bottom line: using Cape Analytics’ data, one customer saw a 5X
return on investment, while another carrier reduced their inspection
spend by over 50 percent. Now, Cape Analytics is rolling out its
commercial data stream, initially in pilots with select existing
customers, followed by wider availability later in 2019.

Cape Analytics’ automated data stream is derived by applying
cutting-edge computer vision and deep learning algorithms to geospatial
imagery and includes loss-predictive property attributes such as Roof
Condition Rating
. For the first time, insurers who underwrite
commercial habitational properties have access to contextualized
intelligence, where they can instantly view information related to their
portfolio, as well as comparative property data at the local and
national level.

“Many of our existing customers also underwrite residential commercial
lines, and have pulled us forward by requesting a commercial solution,”
said Cape Analytics CEO Ryan Kottenstette. “By expanding our coverage
type, we continue to strengthen our overall intelligence platform and
build our company with a customer and solution-driven development ethos.”

Cape Analytics’ commercial data stream is the only solution available
that offers comprehensive and accurate intelligence at time of quote,
with the speed and breadth necessary to fundamentally improve carriers’
underwriting process. This innovative data stream is possible due to
Cape Analytics’ global team of computer vision and data science PhDs,
paired with leading industry expertise related to property risk.

To learn more about the commercial offering, visit www.capeanalytics.com

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 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.

Contacts

Cape Analytics
Kayvan Farzaneh
Kayvan@capeanalytics.com

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