CSAA Insurance Group Partners with Cape Analytics to Improve Home Inspections

The AAA insurer has increased underwriting quality and efficiency by using Cape Analytics’ AI-Based property intelligence solutions.

(Image credit: PublicCo.)

CSAA Insurance Group, a Walnut Creek, Calif.-based AAA Insurer, has deployed advanced AI technology from Cape Analytics (Mountainview, Calif.) to more accurately, quickly and inexpensively assess the condition of member homes.

Brian Gaab, Managing Principal, Core Innovation, CSAA Insurance Group.

Cape Analytics boasts a database of more than 70 million residential buildings in the U.S., with which the vendor says it provides timely and accurate property information by leveraging geospatial imagery, computer vision, and deep learning. The vendor reports that its algorithms can identify a range of risk-significant property attributes and loss-predictive signals. For example, Roof Condition Rating detects issues such as missing shingles, the use of tarps, or discoloration, all of which can be verified with targeted, in-person inspections, as need requires.

The vendor’s technology has helped CSAA Insurance Group to more accurately quote home insurance policies, resulting in improved underwriting decisions, risk selection and customer experience, while reducing the expense of home inspections. Specifically, the insurer has used Cape’s property intelligence to help members proactively repair damaged roofs, provide more accurate policy pricing at both renewal and new business, and reduce unnecessary inspections of high-quality roofs.

“Being able to properly price and underwrite a home’s roof enables us to make consistent and objective underwriting decisions in our day-to-day business and help best insure and serve AAA members,” comments Brian Gaab, managing principal of core innovation, CSAA Insurance Group. “We look forward to continuing our partnership with Cape Analytics, and leveraging their technology to continually improve our business processes and member experience.”

More Accurate Pricing and Improved Customer Experience

Ryan Kottenstette, CEO, Cape Analytics.

Cape Analytics reports that its roof scoring methodology has helped CSAA Insurance Group more accurately evaluate risk, mitigate future losses, and detect potential fraud. For existing business, insurers can use this technology to ensure accurate pricing at renewal, identify catastrophe exposures, and reduce their reliance on outdated sources of data, the vendor says. In quoting new business, insurers can also improve the customer experience by providing a more objective underwriting decision because they can assess true roof condition in a timely manner.

“We are proud to call CSAA Insurance Group a true strategic partner,” comments Ryan Kottenstette, CEO, Cape Analytics. “Together, Cape Analytics and CSAA Insurance Group have explored new ways to combine AI, rigorous data science, and geospatial imagery in order to deliver a better experience to AAA members, as well as more accurate pricing and faster underwriting decisions. We look forward to continuing our work together as we implement cutting edge solutions and grow as partners.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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