Artificial Intelligence company, ZestyAI, unveils Zorro Discover, a new generative AI agent.
In a significant move to bolster its risk analytics capabilities, digital insurance company Lemonade has secured the services of ZestyAI, a leading provider of AI-powered climate and property risk analytics solutions.
ZestyAI's Severe Convective Storm suite is designed to optimise underwriting for catastrophe perils, and Lemonade will utilise this technology to improve its risk assessment and underwriting decisions. The suite, which includes Z-HAIL, Z-WIND, and Z-STORM, has recently received regulatory approval from the Iowa Insurance Division.
The approval marks a critical step in ZestyAI's expansion in the US market. With this technology, Lemonade aims to enhance its ability to analyse, compare, and track insurance filings across carriers, states, and time periods. By automating the extraction, synthesis, and summarization of regulatory and market data, Lemonade can drastically reduce manual research time and enable faster, more accurate decision-making and opportunity identification.
ZestyAI's platform is particularly notable for its AI-driven analysis of property attributes combined with localised climatology. This enables the company to provide granular, property-specific predictions of damage risk and claim severity, further supporting risk assessment and underwriting decisions.
Moreover, ZestyAI's ZORRO Discover uses a proprietary generative AI pipeline and large language models tailored to insurance content. It proactively scans and summarises filings, objections, responses, and regulations, presenting easy-to-understand insights that streamline competitive analysis and regulatory compliance. This automation replaces time-consuming manual reviews, cutting research time by up to 95%, saving thousands of hours and millions in operational costs.
In summary, AI-driven solutions like ZestyAI integrate advanced natural language processing and climate risk modeling to transform regulatory and risk data into actionable intelligence. This partnership between Lemonade and ZestyAI is set to accelerate decision-making and enhance market strategy in the property and casualty insurance sector.
- Lemonade, a digital insurance company, has secured ZestyAI's services to improve its underwriting decisions, as ZestyAI's Severe Convective Storm suite optimizes underwriting for catastrophe perils.
- The use of ZestyAI's technology by Lemonade will enable them to drastically reduce manual research time, automating the extraction, synthesis, and summarization of regulatory and market data.
- ZestyAI's platform, known for its AI-driven analysis of property attributes and localized climatology, provides granular, property-specific predictions of damage risk and claim severity.
- ZestyAI's ZORRO Discover, a proprietary AI tool, proactively scans and summarises insurance filings, objections, responses, and regulations, streamlining competitive analysis and regulatory compliance.
