ZestyAI Introduces Roof Age Solution for Property Risk Assessment

The new solution addresses the leading driver of homeowners’ insurance losses with an approach that uses both building permits and historical imagery.

(Image credit: Nick Allain.)

ZestyAI (San Francisco), a provider of climate and property risk analytics solutions powered by artificial intelligence (AI), introduced its newest solution to address the leading driver of insurance losses: roof claims. ZestyAI’s Roof Age pinpoints the age of a roof using data from both building permits and historical imagery. This unique approach allows the company to determine the age of each roof with over 90 percent accuracy and nearly 100 percent coverage across the contiguous U.S., a vendor says.

Kumar Dhuvur, Co-Founder and Chief Product Officer, ZestyAI.

ZestyAI asserts that traditional methods of obtaining roof age information are deeply flawed and inaccuracies in assessing roof age inflate the overall amount of roof-related claims, which amount to about $19 billion per year. Most carriers depend on policyholder or agent-reported data, which is often inaccurate, leading to blind spots in assessing property risk. In a recent ZestyAI survey, 63 percent of homeowners reported not knowing the age of their roof if they were not in their homes the last time it was replaced.

Recognizing the critical need for a more reliable and comprehensive solution, ZestyAI asserts that it has introduced Roof Age to precisely determine of the age of a roof with unparalleled accuracy. Insurance carriers will use ZestyAI Roof Age to prevent losses, improve premium capture, and optimize inspections.

Most Accurate, Comprehensive Product

“Roof claims stand as the primary driver of insurance losses, yet many carriers continue to rely on unproven policyholder-provided data for assessing roof age,” comments Kumar Dhuvur, Co-Founder and Chief Product Officer, ZestyAI. “ZestyAI Roof Age is the most accurate, comprehensive product on the market. Our unique approach leverages the power of artificial intelligence to analyze both building permits and historical aerial imagery, providing unmatched confidence for insurance carriers in their underwriting and rating decisions.”

ZestyAI’s Roof Age solution is one part of a complete suite of ZestyAI products designed to evaluate roof-related risk. Other solutions in the suite include Digital Roof, which creates a digital twin of every structure in the US for unparalleled insights on condition, complexity, and potential points of failure, as well as highly specialized peril-specific risk models, such as Z-HAILZ-WIND, and Z-STORM.

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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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