capeanalytics.com Open in urlscan Pro
141.193.213.11  Public Scan

Submitted URL: https://email.capeanalytics.com/e3t/Ctc/T9+113/cLHyt04/VWybXS2H1ncdV7dRhs82-SyXVQq14558K9TRN8LB07d3qgyTW7Y8-PT6lZ3mpN1tN2VRq3R-m...
Effective URL: https://capeanalytics.com/resources/expanded-hail-intelligence/?utm_campaign=Content&utm_medium=email&_hsmi=291347883&_hse...
Submission: On January 25 via api from US — Scanned from DE

Form analysis 2 forms found in the DOM

POST https://forms.hsforms.com/submissions/v3/public/submit/formsnext/multipart/6247663/ccd701ab-6310-4741-a9fe-7536d86a9866

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News
September 6, 2023


CAPE ANALYTICS UNVEILS EXPANDED HAIL INTELLIGENCE SUITE, PROVIDING CARRIERS WITH
THE FIRST 360-VIEW OF PROPERTY-LEVEL HAIL RISK

Written By CAPE Analytics
 * 
 * 
 * 
 * 

 1. Introduction

Expanded set of tools broadens the scope of hail risk assessment scores to
include historical hail experience, current property vulnerability, current
overall risk, and estimated severity of future hail claims

Palo Alto, California — September 6th, 2023 — Today, CAPE Analytics, the leader
in AI-powered property intelligence, has announced the launch of an expanded
hail product suite, built to provide property insurers with the most
comprehensive toolkit for assessing and pricing property-level hail risk. Hail
has continued to grow as a peril, with average U.S. insured loss surpassing $20B
annually. Carriers now require better risk assessment tools to reduce future
losses. CAPE is proud to offer the first holistic hail risk product that merges
historical claims analysis, recent forensic weather information from Canopy
Weather, and current property vulnerability characteristics to help carriers
accurately determine future risk.

Current methods for assessing hail risk are inadequate. Many carriers rely on
agent or homeowner-submitted information around roof age, covering material, and
basic roof shape to estimate property vulnerability and loss severity
potential—but this information is both incomplete and often incorrect.
Meanwhile, hail is a complex and granular weather phenomenon. Large hail has an
obvious impact but is often highly localized, while smaller hail is far more
widespread, frequent, and lower impact, but can compound to degrade roofs over
time. Vulnerability to hail also changes from property to property—roof
materials and characteristics respond differently to hail strikes and can affect
claim severity.

CAPE Hail Intelligence combines machine learning, imagery analytics, and
forensic weather history for a comprehensive view of hail risk, including the
following risk scores and analytics: 

 * Hail Experience Rating: Estimates the likelihood that a property has
   experienced recent hail damage, using historical weather analytics from
   Canopy Weather, that cannot be captured by roof condition assessments.
   Identifying undetected hail damage allows insurers to better gauge the
   likelihood of a claim at the point of quote or underwriting review, or to
   proactively manage potential claims and mitigate financial risks when
   reviewing an existing book of business.
 * Hail Vulnerability Rating: Considers factors such as structure footprint,
   roof condition, roof covering material, and more, to help insurers assess a
   property’s susceptibility to hail damage. Properties with high vulnerability
   in hail-prone states have 2.5X higher hail loss ratios and 3X the claims
   frequency compared to those with lower hail vulnerability. 
 * Hail Risk Rating: Provides insurers with an overall assessment of a
   property’s risk to hail by combining vulnerability and forensic weather
   analytics from Canopy Weather. Understanding the overall risk profile allows
   carriers to tailor coverage and price more effectively.
 * Hail Loss Severity Rating: Estimates the potential severity of a future hail
   claim based on a property’s characteristics to help insurers gauge the
   monetary impact of hail damage. CAPE research has determined that carriers
   often underprice homes that are predicted to have higher loss severity.  

“Hail accounts for tens of billions of dollars in insured annual losses in the
United States alone and is a complex weather phenomenon and peril to assess,”
said Mike McCormick, Product Manager at CAPE Analytics. “CAPE has combined
imagery-based property analytics and granular weather history for the first time
into a hail risk assessment toolkit that can be used by insurance carriers to
better understand property-specific exposure.” 

To learn more about the CAPE Hail Intelligence Suite, visit
https://capeanalytics.com/hail-intelligence/ or contact us here. 

About CAPE Analytics

CAPE Analytics is the leading provider of geospatial property intelligence. CAPE
provides instant property insights for millions of residential and commercial
buildings by analyzing high-resolution imagery, property records, and novel data
sources using computer vision and machine learning. With a mission to better
understand and protect the built environment, CAPE provides property
stakeholders with risk-predictive property attributes that are more timely,
accurate, and objective than on-site inspections. Comprised of insurance, real
estate, and data experts, CAPE is backed by leading venture capital firms and
insurance carriers.


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HAIL INTELLIGENCE SUITE | VIDEO OVERVIEW

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PROPERTYCASUALTY360: ROOF EXPERIENCE KEY FOR INSURERS SEEKING TO MITIGATE HAIL
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