West Bend Insurance has partnered with ZestyAI to use its Z-PROPERTY risk analytics platform to improve the accuracy of personal line underwriting and renewal processes.
Z-PROPERTY uses computer vision and machine learning to analyse aerial and satellite imagery, building permits, and other unique data sources for over 150 million residential and commercial properties.
The companies claim that the platform will enhance West Bend Insurance's ability to manage its residential portfolio with comprehensive coverage and precision, streamlining the underwriting process through advanced analytics for quicker, more informed decisions, while ensuring final coverage decisions are made by trained representatives.
Jonathan Schulz, assistant vice president for personal lines at West Bend Insurance, says: “Our partnership with ZestyAI has significantly improved our ability to assess and manage residential property risks.
“By expanding our use of Z-PROPERTY for our personal lines business, we can gain deeper insights into the properties we insure, allowing us to mitigate risks more proactively and efficiently.”
Attila Toth, founder and CEO of ZestyAI, commends: “Conducting a thorough review of a portfolio can be a daunting task. Z-PROPERTY simplifies this process, enabling carriers to assess their entire book of business seamlessly, pinpointing the riskiest policies to ensure proper risk mitigation. The platform is easy to deploy, requiring no IT integration, and covers every property in North America.”
