CAPE Analytics, the leader in AI-powered geospatial property intelligence, is pleased to announce its partnership with Cypress, a Florida and Texas-based property and casualty insurance provider. This partnership is driving faster underwriting decisions, supporting new business quoting, and reducing unexpected loss due to incomplete or out-of-date property information. The integration provides Cypress’s personal and commercial lines businesses access to CAPE’s premiere property data and Roof Condition Rating insights to streamline underwriting and renewal processes, and verify eligible properties quickly and efficiently.
“Our partnership with CAPE Analytics has been instrumental for our business, as we strive toward a more efficient underwriting process and manage risk across our book over the course of the policy lifecycle,” said Tim Cordier, Chief Risk Officer at Cypress Property & Casualty Insurance Company. “This integration has improved the insured experience across both our personal and commercial lines businesses, and supported our premium growth over the past year.”
Since leveraging CAPE’s geospatial solution, Cypress’s commercial lines business has seen significant growth. The insurance provider also continues to mitigate hurricane risk across its book of business with automated insights into a structure’s vulnerability to high winds. CAPE property intelligence is used on 100% of incoming commercial residential condominium association submissions to screen properties for potential condition issues upfront, reducing the likelihood of post-bind changes and streamlining renewal conversations around any potential safety concerns.
“By partnering with CAPE, Cypress can better protect their insureds, while streamlining business practices and monitoring their book of business over time,” said Scott Moore, VP of Sales at CAPE Analytics. “This results in not only providing insureds and agents with a seamless experience, but also supports Cypress’s ability to continue building a fundamentally sound business.”