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West Bend Expands AI-Powered Risk Analytics with ZestyAI

Risk Analytics

Business Honor
24 September, 2024

West Bend Insurance expands its partnership with ZestyAI to integrate AI-driven risk analytics into its underwriting process for improved accuracy.

West Bend Insurance Company is furthering its collaboration with ZestyAI to add more AI-powered risk analytics to its underwriting process. This collaboration allows West Bend to better evaluate and manage residential property risks through the advanced property risk platform of ZestyAI, known as Z-PROPERTY, for improving the accuracy of underwriting and renewal processes in personal lines insurance.

Z-PROPERTY uses artificial intelligence and computer vision to analyze vast sources of data, including aerial and satellite imagery, building permits, and property conditions. It continuously monitors more than 150 million properties to provide West Bend with the latest information on property maintenance, upgrades, and potential hazards. It can then make proactive coverage assessments with greater accuracy so that policies reflect the current property conditions.

West Bend's underwriting workflow is also simplified by integration with AI-driven analytics, enabling a comprehensive view of its property portfolio. Through Z-PROPERTY aggregation from verified sources and historical imagery through building permits, property condition reports, and many more, analysis of this information enables West Bend to make fast, informed decisions while allowing its trained representatives to finalize coverage decisions based on the insights gained into every aspect of each property's risk profile.

Jonathan Schulz, AVP of Personal Lines at West Bend Insurance, pointed to the value derived from the collaboration: "Through increased adoption of Z-PROPERTY for our personal lines business, we will gain an even better understanding of the properties we insure so that we may mitigate risks proactively and efficiently.

Attila Toth, Founder and CEO of ZestyAI, said: "Z-PROPERTY makes it easy to deploy and simplifies risk analysis. It allows carriers to assess their entire book of business seamlessly, pinpointing the riskiest policies and ensuring proper risk mitigation across North America."

The partnership is a significant step in enhancing West Bend's risk management capabilities, reinforcing its commitment to delivering accurate, proactive insurance solutions.