MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Today, Cape Analytics, provider of the most accurate and up-to-date structured property data for insurers and reinsurers, announced the availability of its new cedent portfolio product offering. The solution, designed for the needs of reinsurers, drops directly into current reinsurer workflows, offering them instant, accurate, and objective data at scale about each individual risk in their cedent portfolios. This data enables a more accurate view of exposure risk at the portfolio level, as well as insights into data quality for specific cedents.
Cape Analytics’ data solution format plugs into leading CAT risk models from AIR and RMS without any change to reinsurer workflows. Reinsurers can submit their portfolio to Cape Analytics, which will send back an augmented data set with delta analysis in under 24 hours. This has enabled early-adopting reinsurers to identify exposure changes of up to 15 percent on a portfolio basis, dramatically improving risk assessment.
“Cape Analytics has been a fantastic partner in helping us review our exposure to catastrophic risk on a portfolio-by-portfolio basis. By delivering accurate, independent data, they not only enable insights into general cedent data quality, but also data corrections that allow us to improve our view of the exposure we’re considering. In addition to offering the leading solution, they’ve been very responsive and collaborative partners,” said Barney Schauble, Managing Partner at Nephila Advisors.
“Our goal is to offer the leading solution for risk-related property data accurately, instantaneously, and at scale. We delivered data to clients on over 10 million specific addresses last month. We’re excited to roll this latest solution out to more customers and expand our geographic and feature coverage,” said Ryan Kottenstette, CEO of Cape Analytics.
This newest product release follows six months of growth for Cape Analytics. The company has expanded from offering two property data points in Florida, to six property data points (including roof condition and characteristics, square footage measurements, and parcel features such as solar panels and pool enclosures) across the entire southeastern seaboard. Cape Analytics’ property data has expanded from covering 5 million homes and 10 million distinct data points, to 15 million homes and 90 million data points.
To learn more about Cape Analytics, visit www.capeanalytics.com
About Cape Analytics:
Cape Analytics was established in 2014 to revolutionize the way information about the built environment is created and used. The company leverages geospatial imagery, computer vision, and machine learning to instantly and automatically extract proprietary property data for insurance carriers and other property stakeholders. Cape Analytics establishes a new category of property data and analytics, offering immediacy and coverage comparable to pre-filled data, but with accuracy and detail that previously required time-consuming in-person inspection reports. Cape Analytics seamlessly integrates into an insurance carrier’s quote engine, via API.