PALO ALTO, Calif. (PRWEB) May 26, 2021
Hippo, the home insurance group that created a new standard of care and protection for homeowners, today announced a new integration with Cape Analytics, which uses deep learning and geospatial imagery to provide real-time property intelligence. The integration advances Hippo’s automated property analysis capabilities to more narrowly target property characteristics and tailor policies accordingly using its own machine learning algorithms.
Hippo has modernized the home insurance process using advanced technology to identify and address homeowner issues proactively. Through its work with trusted analytics sources to build deeper layers of insights, Hippo continues to enhance its underwriting and ongoing risk management and mitigation insights to provide premier home protection. CAPE’s geospatial property analytics, powered by machine learning and computer vision, layers into Hippo’s proprietary policy management system to expedite the onboarding flow for new leads while increasing the accuracy of policy coverage and premiums specifically tailored to a unique property.
“CAPE’s integration will be instrumental in driving deeper property intelligence, which in turn proactively protects our customers and seamlessly intrigues the most accurate information into the onboarding flow for potential customers,” said Aviad Pinkovezky, Chief Product Officer, Hippo. “With Cape, we acutely define the characteristics of a property and its surrounding area with a degree of accuracy that hasn’t existed before in home insurance to help our customers take important steps to protect their home.”
CAPE identifies valuable property characteristics such as a roof’s condition, yard debris, solar panels, overhanging trees, swimming pools and more with faster speed and accuracy than traditional third-party data sources. This intelligence will support further automation of Hippo’s underwriting process and even enhance its renewal capabilities, replacing the need for in-person inspections. As a result, Hippo customers receive a streamlined home insurance experience with tailored policy coverage year after year.
This level of property intelligence from CAPE will be used to help Hippo Insurance Services narrow in on homeowner risks that are commonly associated with catastrophic losses in areas prone to wildfires, high winds, and hail. Because geospatial analytics capture property changes continuously, Hippo can proactively reach out to customers earlier to help make recommendations to mitigate potential issues, such as clearing surrounding brush or trimming overhanging tree limbs, or updating their policy coverage.
"We're thrilled to be integrating with Hippo, an established technology partner providing meaningful protection for homeowners, " said Ryan Kottenstette, CEO and Cofounder, CAPE Analytics. "The impact our team has made to establish and advance geospatial analytics in insurance helps provide companies like Hippo with accurate property intelligence and action-oriented insights that can truly drive change and help keep their customers protected."
Hippo Insurance Services offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. Our goal is to make homes safer and better protected so customers spend less time worrying about the burdens of homeownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California with offices in Austin and Dallas, Texas and insurance products available to more than 70 percent of U.S. homeowners in 35 states. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. For more information, including licensing information, visit http://www.hippo.com.
About CAPE Analytics
CAPE Analytics provides instant property intelligence for buildings across the United States and Canada. CAPE 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 coverage. 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.