(Image source: Arturo homepage.)
Hippo Insurance, the California-based Insurtech distributor that applies emerging data sources and processing approaches to homeowners’ insurance, has integrated Arturo’s (Chicago) deep-learning property analysis capabilities with its proprietary policy management system to improve its quotation, underwriting, and renewals capabilities. Arturo is a deep-learning property analytics company incubated within American Family Insurance (Madison, Wisc.).
“Because Arturo was built from the ground-up inside American Family Insurance, a Top 10 US P&C Insurer, we deeply appreciate and understand the specific and important challenges our partners are trying to solve,” comments John-Isaac Clark, CEO, Arturo. “We are incredibly excited about announcing our relationship with Hippo Insurance and tirelessly work to integrate our collective products in a way that furthers the customer experience in home insurance.”
Arturo describes its AI powered insights as allowing Hippo to better understand the physical world around a home, by analyzing property photos from satellite, aerial, drone, and ground-level imagery. The technology delivers detailed property information, often in under 5 seconds, which Hippo uses to create highly accurate pricing, delivering home insurance quotes in under 60 seconds and at up to 25 percent below the industry average, according to an Arturo statement.
Pre-Filling Valuable Property Data
“Hippo’s partnership with Arturo has allowed us to pre-fill very valuable property data and information directly into the customer’s application including roof material, pool presence, and more,” comments Michael Gulla, Senior Director of Underwriting, Hippo. “These insights streamline the client’s onboarding process, while helping us define a highly accurate initial rating and top-quality underwriting requirements.”