MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Today, Cape Analytics, provider of the most accurate and up-to-date structured property data for insurers and reinsurers, is announcing the geographic expansion of its data coverage to eight additional states. The expansion, from Florida to the entire southeastern seaboard, will allow insurers to instantly pre-fill property information at time of quote, shorten their application processes, price policies more accurately, and reduce post-binding adjustments and cancellations. Additionally, reinsurers can instantly verify critical data attributes across entire candidate cedant portfolios.
With this extension of the company’s data coverage, Cape Analytics now generates high fidelity, high frequency data for properties in coastal Texas, Louisiana, Florida, Mississippi, Alabama, Georgia, South Carolina, North Carolina, and Virginia. Cape Analytics is also broadening its roster of valuable property features that can be integrated into carrier quote systems, to now include information on roof condition and characteristics, square footage measurements, and parcel features such as solar panels and pool enclosures.
“Cape Analytics' solution provides us with instant access to validated property features at the time of quote. Their data and technology have been extremely valuable to our business and improving customer experience. We are excited to continue working with Cape Analytics as they expand their footprint and feature set across the Southeastern seaboard,” said Werner Kruck, Chief Operating Officer and Director at Security First Insurance, a leading Florida-based insurer.
Cape Analytics’ world class machine learning and data team continues to expand the capabilities of its cloud-based platform, providing an on-demand data stream of high-value property features at massive scale. For insurers, access to this data transforms their underwriting process by improving the agent and customer experience, increasing quote speed and refining quote accuracy.
“We are proud to be the first company to provide accurate, up-to-date structured property information, instantly and at scale, across nine states along the southeastern coast. We’re able to do this thanks to a world class team and technology that leverages cutting-edge machine learning, data science, and cloud computing. This is a major step towards our fast-approaching goal of providing insurers and reinsurers with property data across the continental United States,” said Cape Analytics’ CEO, Ryan Kottenstette.
To learn more about Cape Analytics, visit www.capeanalytics.com
About Cape Analytics:
Cape Analytics was established in 2014 to revolutionize the way information about the built environment 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 and analytics, 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 an insurance carrier’s quote engine, via API.