April 13, 2021 by CAPE Analytics
Insurance carriers in Canada can now access CAPE property characteristics and condition attributes to make better underwriting and investment decisions
MOUNTAIN VIEW, Calif./APR. 13, 2021/insPRESS/ – Today, CAPE Analytics, the leader in AI-powered geospatial property intelligence, is announcing its expansion into Canada. Now, property stakeholders can access the most accurate and recent data available for many properties in Canada, including loss and valuation predictive attributes such as roof condition rating, yard debris, pool and solar panel detection, vegetation coverage, and much, much more. Insurance carriers can leverage this new source of property information to make better, quicker, and more profitable decisions.
To date, Canadian carriers have had to rely on outdated or inaccurate property data. CAPE leverages high-resolution aerial imagery and artificial intelligence to create a living database of recent, accurate property information, including characteristics like tree overhang, roof geometry, roof covering material, and structure size, as well as assessments of property condition, including the roof and the entire parcel. CAPE’s customer success team works hand-in-hand with clients to maximize the utility of this new dataset in business workflows—from quoting and underwriting to home valuations and loan pool decisioning.
CAPE insights are now available for residential properties in major metropolitan areas, including Vancouver, Edmonton, Winnipeg, Calgary, Toronto, Ottawa, Quebec City, and Montreal. These insights are provided to customers in under two seconds, via API, or through leading third-party core processing platforms, such as Guidewire and Duck Creek. Customers who want to leverage CAPE property intelligence immediately can also use the CAPE web application or batch file transfers.
“We’re thrilled to bring CAPE geospatial property intelligence to stakeholders in Canada, to help carriers transparently assess and understand property risk and value,” said Amy Minnick, Chief Business Officer at CAPE Analytics. “This expansion represents a significant milestone for the CAPE team, as we look to expand beyond the United States and extend our geospatial property intelligence to new markets based on customer needs.”
Insurance carriers and MGAs operating in Canada can use CAPE information to improve quoting speed and accuracy, power straight-through processing, optimize inspection models at underwriting and renewal, and proactively detect property changes over time. CAPE imagery-based insights provide recent, loss-predictive property characteristics that can also be relied on to price home insurance policies far more effectively than the current market standard.
For more information, visit www.capeanalytics.com
About CAPE Analytics
CAPE Analytics provides instant geospatial property intelligence for buildings across the United States. CAPE Analytics enables residential and commercial property stakeholders to access valuable property attributes instantly, with the accuracy and detail that typically requires an on-site inspection, but with unparalleled immediacy and national scale. Founded in 2014, CAPE Analytics is backed by leading venture capital firms and insurers, and is comprised of machine learning, data infrastructure, and property risk experts.