AI-powered analytics solution to assist with underwriting and rating processes
SAN FRANCISCO, Calif., and WALNUT CREEK, Calif., Nov. 16, 2022 – As wildfires continue to threaten states across the U.S., ZestyAI, a leading provider of climate and property risk analytics solutions powered by Artificial Intelligence (AI), has partnered with CSAA Insurance Group for wildfire risk assessment. To help gauge property-level wildfire risk, CSAA plans to integrate ZestyAI's, Z-FIRE™ into underwriting and rating processes for homeowners’ insurance.
“With climate change altering the face of insurance, AI is an increasingly important tool for forward-thinking insurers,” said Attila Toth, founder, and CEO of ZestyAI. “We are committed to supporting CSAA on its journey to offering innovative products that are backed by data-driven risk analysis.”
This partnership comes as wildfires continue to cause destruction in multiple states across the country. Z-FIRE™ provides wildfire risk scores for all properties in the 48 contiguous U.S. states. In addition, a joint study by the Insurance Institute for Business & Home Safety (IBHS) and ZestyAI, which studied more than 71,100 wildfire-exposed properties, found that property owners who clear vegetation from the perimeter of their home or building can nearly double their structure's likelihood of surviving a wildfire.
“Our goal is to continuously find better ways to serve our policyholders,” said Rick Lanter, senior vice president of product strategy and development for CSAA Insurance Group. “By broadening our understanding and application of AI, we expect to more accurately estimate wildfire risks in support of our customers.”
Z-FIRE™ is expected to be offered in several CSAA markets.
ZestyAI offers insurers and real estate companies access to precise intelligence about every property in North America. The company uses AI, including computer vision, to build a digital twin for every building across the country, encompassing 200 billion property insights accounting for all details that could impact a property’s value and associated risks, including the potential impact of natural disasters. Visit zesty.ai for more information.
About CSAA Insurance Group
CSAA Insurance Group, a AAA Insurer, offers automobile, homeowners and other personal lines of insurance to AAA Members through AAA clubs in 23 states and the District of Columbia. Founded in 1914, the company has been rated “A” or better by AM Best for more than 90 years, and is one of the top personal lines property casualty insurance groups in the United States, according to the National Association of Insurance Commissioners. The company has been repeatedly named one of the 50 most community-minded companies in America by Points of Light. More information is available at http://csaa-insurance.aaa.com and on social media (Facebook, Twitter, LinkedIn, Instagram).