Annual Awards Program Honors Standout AI and Machine Learning Solutions and Companies
OAKLAND, Calif., August 26, 2020 –Zesty.ai, the leading digital transformation partner for property & casualty insurance industry, today announced that it has been selected as the winner of the “Best AI Startup” award in the 2020 AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial Intelligence (AI) market. Zesty.ai is the only award recipient serving the property & casualty insurance industry.
As more frequent natural disasters displace families, devastate communities and result in massive financial loss, Zesty.ai makes use of artificial intelligence to better understand the impact of climate risk and provide innovative digital insurance products. Zesy.ai’s AI models serve personal and commercial lines insurance carriers, Managing General Agents (MGA), and Reinsurers to drive better results as evidenced in lower loss ratios, risk-adjusted premiums, increased market share, better reinsurance terms and an enhanced customer experience.
“2020 will be remembered as a make-or-break year for innovation. In the wake of Covid-19, many of our customers accomplished in six weeks what would have taken them years under less stressful circumstances. Successful insurance companies realized that they need to reinvent themselves with data and technology at the core,” said Attila Toth, Founder and CEO of Zesty.ai. “This award comes at an apt moment in time when coupled with a pandemic multiple large scale natural disasters, such as wildfires and hurricanes, are impacting millions of Americans. This 2020 AI Breakthrough Award serves as recognition of the value that the Zesty.ai team brings to our insurance partners to help them protect their customers during these trying times.”
The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of AI and machine learning related categories, including AI platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry specific AI applications and many more. This year’s program attracted more than 2,750 nominations from over 15 different countries throughout the world.
Zesty.ai’s property risk analytics platform uses 200 Bn data points, including aerial imagery, weather and real estate data to understand the impact of climate risk to each and every building. Zesty.ai leverages artificial intelligence for modeling the built environment in 3D and simulating the impact of natural disasters, such as wildfires, severe convective storms and flood events.
“Zesty.ai’s unique and innovative approach in bringing modern, advanced data and predictive models to catastrophe risk is driving “breakthrough” changes to the insurance industry,” said James Johnson, managing director, AI Breakthrough. “It’s not an easy task to standout in a crowded field of AI startups, but Zesty.ai has done a remarkable job and we are thrilled to recognize the Company in our 2020 AI Breakthrough Awards program.”