Mercury Insurance Adopts CAPE Analytics’ AI-Powered Property Intelligence For Insurance Underwriting
Today, CAPE Analytics, the pioneering provider of AI-powered insights for property risk, is pleased to announce that Mercury Insurance will be integrating CAPE’s suite of property intelligence solutions into its underwriting workflows. Mercury Insurance will leverage a number of CAPE’s property attributes and risk scores to instantly assess risk on a property-by-property basis across the states it operates in, including California.
Mercury Insurance rigorously reviewed imagery-based property information providers before ultimately selecting CAPE due to the market-leading accuracy and speed of its products. Integrating this new source of property intelligence, such as roof condition, can improve new business and renewal underwriting efficiency, and will allow Mercury to ensure it is providing its customers with the right insurance coverage at the right price, with the speed that today’s consumer expects. CAPE’s property attributes will also allow Mercury to work with homeowners to reduce their vulnerability to weather events through achievable risk mitigation practices.
“At Mercury, we are always looking for predictive data and effective tools to enhance our underwriting and pricing, which will allow us to better serve our customers. CAPE Analytics’ products provide us with a unique and granular view of the properties we insure, which will transform the way we look at risk. We look forward to working with CAPE to introduce this new information into our business workflow,” said Kelly Glover, Director of Personal Property Underwriting at Mercury Insurance.
“CAPE is thrilled to be a key data partner to Mercury Insurance as our team continues to push the boundaries of our property intelligence solutions. While new risk signals, such as our proprietary Roof Condition Rating, are available instantly and can help carriers like Mercury better segment risk, additional insights, like CAPE’s new Wildfire Mitigation Potential, can arm carriers with valuable information for their insureds and help them reduce the likelihood of sustaining property damage,” said Busy Cummings, Chief Revenue Officer at Cape Analytics.
For more information, visit 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 Mercury Insurance
Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners, and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit http://www.mercuryinsurance.com or follow the company on Facebook, Instagram and Twitter.