CAPE Analytics, a front-runner in AI-powered geospatial property intelligence, is extending its partnership with The Hanover Insurance Group, a firm committed to providing optimal insurance coverage and pricing via independent agents.
The crux of the partnership expansion involves integrating geospatial analytics into The Hanover’s underwriting process, augmenting inspection and rating models. This strategic move aims to enhance the company’s rating plans, leading to improved workflows, outcomes for new and renewal underwriting, and superior pricing segmentation.
As a key player in the insurance industry, The Hanover Insurance Group is known for its drive to offer optimal insurance coverage and pricing through its network of independent agents. CAPE Analytics, on the other hand, stands out for its innovative use of AI to deliver valuable property characteristics, such as roof conditions, yard debris, solar panels, overhanging trees, swimming pools, and more, with greater speed and accuracy than traditional data sources.
This partnership brings an array of benefits, with CAPE’s technology enhancing the underwriting process and contributing to a standout customer experience. CAPE’s Senior Scott Strogatz, director of client development, commented on the value of the partnership: “Being agent-focused enables them to respond quickly to market changes and customer needs, thus maximising the value derived from CAPE insights,” Strogatz said.
Tim Dillahunt, vice president of underwriting operations and strategy at The Hanover, echoed the sentiment, stating, “The Hanover’s commitment to investing in technology provides independent agents with a better understanding of risk and more accurate pricing.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
