Cypress P&C Insurance partners with CAPE Analytics to accurately predict property risk
CAPE Analytics’ property intelligence allows Cypress to offer faster underwriting decisions that more accurately reflect risk
Today, CAPE Analytics, the leader in AI-powered geospatial property intelligence, is pleased to announce its partnership with Cypress, a Florida and Texas-based property and casualty insurance provider. This partnership is driving faster underwriting decisions, supporting new business quoting, and reducing unexpected loss due to incomplete or out-of-date property information. The integration provides Cypress’s personal and commercial lines businesses access to CAPE’s premiere property data and Roof Condition Rating insights to streamline underwriting and renewal processes and verify eligible properties quickly and efficiently.
“Our partnership with CAPE Analytics has been instrumental for our business, as we strive toward a more efficient underwriting process and manage risk across our book over the course of the policy lifecycle,” said Tim Cordier, Chief Risk Officer at Cypress Property & Casualty Insurance Company. “This integration has improved the insured experience across both our personal and commercial lines businesses, and supported our premium growth over the past year.”
Since leveraging CAPE’s geospatial solution, Cypress’s commercial lines business has seen significant growth. The insurance provider also continues to mitigate hurricane risk across its book of business with automated insights into a structure’s vulnerability to high winds. CAPE property intelligence is used on 100% of incoming commercial residential condominium association submissions to screen properties for potential condition issues upfront, reducing the likelihood of post-bind changes and streamlining renewal conversations around any potential safety concerns.
“By partnering with CAPE, Cypress can better protect their insureds, while streamlining business practices and monitoring their book of business over time,” said Scott Moore, VP of Sales at CAPE Analytics. “This results in not only providing insureds and agents with a seamless experience, but also supports Cypress’s ability to continue building a fundamentally sound business.”
For more information, visit www.cypressig.com and www.capeanalytics.com
About CAPE Analytics
CAPE Analytics provides instant property intelligence for buildings across the United States and Canada. CAPE Analytics enables residential and commercial property stakeholders to access valuable property attributes instantly, with the accuracy and detail that typically requires an on-site inspection, but with unparalleled immediacy and global scale. Founded in 2014, CAPE Analytics is backed by leading venture capital firms and insurers and is comprised of machine learning, data infrastructure, and property risk experts.
About Cypress
Cypress Property & Casualty Insurance Company provides an array of innovative insurance products (including Homeowners, Artisans General Liability, and Condominium Owners) to clients in Florida and Texas for well over a decade. Cypress Property & Casualty Insurance Company differentiate themselves with their unwavering dedication to fast, fair and efficient claims handling, quality underwriting, superior customer service and an unparalleled reinsurance program which provides a competitive advantage while ensuring the financial stability of the companies in the event of a property catastrophe.