Tensorflight Partners with Socotra

Tensorflight will join the Socotra App MarketPlace and the vendor’s imagery will be integrated into Socotra’s platform.

(Image source: Tensorflight homepage.)

Tensorflight (New York/Warsaw), a global artificial intelligence and imaging-based InsurTech providing automated property inspection, has partnered with Socotra, a company providing a modern, cloud-based platform for technology-driven insurers. Tensorflight will join the Socotra App MarketPlace, which enables insurers to easily add new solutions and services.

Jacob Grob, CRO and Data Innovation Lead, Tensorflight.

Tensorflight uses three sources of imagery—ground level, aerial, and state-of-the-art satellite images—as well as data from public, contributory, and proprietary sources to provide what the vendor describes as detailed coverage of 99 percent of properties in developed countries. Using AI and computer vision, Tensorflight says it can automatically assess a range of property attributes and characteristics to enable insurers to perform more accurate and efficient analyses on properties at scale.

The joint solution from Tensorflight and Socotra will enable insurers to deliver faster, cheaper, and better products and services to their customers, according to a Tensorflight statement. The partnership will also serve to support Socotra’s international expansion strategy by enabling the insurance technology provider to broaden its appeal among prospective commercial property insurer clients, Tensorflight says.

“We are thrilled to partner with Socotra,” comments Jacob Grob, CRO and Data Innovation Lead, Tensorflight. “The company shares our vision of transforming the insurance industry with cutting-edge technology. By integrating our property data and insights with Socotra’s cloud-based platform, we can offer insurers a seamless and comprehensive solution for creating and managing innovative and customer-centric insurance products.”

Mike Benayoun, Director of Partnerships, Socotra.

Valuable Insights on Property Conditions

“Socotra is very excited by the opportunities this partnership presents,” says Mike Benayoun, Director of Partnerships, Socotra. “By integrating aerial data into Socotra Connected Core we will offer insurers the ability to gain valuable insights on property conditions, environmental factors, and other risk indicators for a wide range of geographic regions. The additional insights help Insurers stay competitive and meet evolving customer needs with the development of new insurance products and services tailored to specific segments or emerging risks.

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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 AnthODonnell@IIReporter.com or (503) 936-2803.

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