Florida Peninsula Insurance Selects ZestyAI for Precision Risk Assessment in Florida

PR Newswire

ZestyAI's AI-powered property intelligence solutions identify risks and assess exposure, improving risk outcomes for insurers and property owners

SAN FRANCISCO and BOCA RATON, Fla., April 23, 2024 /PRNewswire/ - ZestyAI, the leading provider of climate and property risk analytics solutions powered by artificial intelligence (AI), today announced an agreement with Florida Peninsula Insurance Company. This partnership will leverage ZestyAI's advanced property analytics solutions to provide Florida Peninsula with a deeper understanding of property-level risk in their homeowners book in Florida.

Florida Peninsula will use ZestyAI's Z-PROPERTY™ Location Insights™ solution, which applies advanced computer vision and machine learning to capture valuable insights from various data sources, including aerial and satellite imagery, tax assessments, building permits, and infrastructure data, among other unique data sources, for over 150 million residential and commercial properties. Florida Peninsula found ZestyAI's insights to be highly accurate, matching and even enhancing the results of physical inspections. By implementing these insights, Florida Peninsula aims to further improve underwriting accuracy with the goal of a superior customer experience.

"Taking a data-driven, highly analytical approach has always been a cornerstone to the way we do business at Florida Peninsula," said Gard Olbers, Chief Risk Officer at Florida Peninsula Insurance Company. "With ZestyAI, we found a like-minded, agile and highly innovative partner that provides us with more data insights than ever before. This partnership will provide a positive customer experience for all the Floridians we serve."

"We have been impressed by the steady growth of Florida Peninsula Insurance in the complex Florida insurance market over the past five years," said Attila Toth, Founder and CEO of ZestyAI. "Our commitment is to deliver at least ten times return on investment from this partnership through enhanced underwriting, operational efficiency, and customer and agent satisfaction."

Florida Peninsula Insurance Company will leverage ZestyAI's Z-PROPERTY Location Insights for a comprehensive assessment of roof quality. ZestyAI's Location Insights delivers highly accurate property data on parcels and structures for all properties in the US instantly, without ever stepping on-site. Location Insights identifies high-risk features, such as roof quality, swimming pools, trampolines, lot debris, and overhanging vegetation, facilitating accurate underwriting and customer and reinsurer transparency.

About Florida Peninsula Insurance (FPI)
Since 2005, FPI has grown to be one of the largest homeowner carriers in Florida, focusing solely on home, condominium, and renter policies. Managed by Windward Risk Managers and Headquartered in Boca Raton, Florida, FPI has maintained a Financial Stability Rating® of A-Exceptional from Demotech and continues to be a leader in Florida's homeowner's insurance market by adhering to a strong conservative financial approach, while offering policyholders competitive rates and customizable policy options to fit their needs. www.FloridaPeninsula.com

About ZestyAI
ZestyAI is the leading property and climate risk platform for Property and Casualty insurers in North America. The company has revolutionized the world's understanding of property and climate perils by combining artificial intelligence with historical losses and cutting-edge data sources. Leading insurers trust ZestyAI's platform to identify risk and assess exposure, including the impact of catastrophic events like wildfires, hail, and windstorms. ZestyAI helps insurers make more informed underwriting decisions, rate fairly and accurately, enhance reinsurance outcomes and improve customer experience through actionable risk insights that both property owners and regulators trust.

For more information on how ZestyAI is revolutionizing risk management, visit www.zesty.ai.

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