ZestyAI and Duck Creek Partner to Enhance Climate Risk Analytics

The insurance industry is undergoing a significant transformation, driven by the increasing availability of technology and data. In a recent development, ZestyAI has partnered with Duck Creek Technologies to provide P&C insurers with advanced property analytics and risk scores to assess and manage climate-related risks.

Climate risk is a growing concern for insurers

Through this partnership, ZestyAI’s climate models will be accessible within the Duck Creek platform, providing insurers with a detailed view of a property’s risk exposure to natural disasters such as severe convective storms and wildfires. This will enable insurers to reduce their loss ratios by controlling risk selection and offering tailored insurance solutions based on the insights provided by the new solution.

“Our mutual customers are looking for the most accurate, location-specific data to assess the underlying risk of a property.” - Robert Fletcher, Senior Partner Manager at Duck Creek

The ZestyAI models, grounded in materials science and atmospheric science, address significant challenges such as wildfires and severe convective storms, while also evaluating general property risk factors like roof quality.

Wildfires are a growing concern for insurers

“The insurance industry is undergoing a seismic shift when it comes to the availability of technology and data,” said Attila Toth, Founder and CEO of ZestyAI. “Our models address significant challenges such as wildfires and severe convective storms, while also evaluating general property risk factors like roof quality.”

This partnership demonstrates the power of Duck Creek’s open platform, which enables insurers to rapidly integrate innovative solutions to provide an easier, quicker, and more accurate user experience.

Insurance technology is evolving rapidly

The integration of ZestyAI’s climate models with Duck Creek’s platform is a significant step forward in the development of climate risk analytics. As the insurance industry continues to evolve, partnerships like this will play a critical role in shaping the future of risk assessment and management.