The partnership will allow insurers to leverage CAPE Analytics property insights via Socotra’s platform. Specifically, the two companies will provide joint customers with access to CAPE’s property intelligence data, powered by geospatial imagery, risk-relevant information, and machine learning.
Founded in 2014, CAPE Analytics provides instant property intelligence for building across the US and Canada, enabling residential and commercial property stakeholders to access valuable property attributed instantly, with the detail that typically requires an on-site inspection.
Socotra provides insurers with technology to help them develop products that better serve their customers. Its cloud-native solution unifies underwriting, rating, policy management, claims, billing, reporting and more.
The integration will be made available on Socotra Marketplace, the first no-code app marketplace for insurers, and, according to CAPE Analytics, will power better underwriting results and more granular policy pricing.
Busy Cummings, chief revenue officer at CAPE Analytics, said “CAPE’s partnership with Socotra will unlock additional opportunities for insurers to quickly and seamlessly integrate an array of new risk signals into quoting and underwriting workflows without waiting for IT bandwidth.
“This integration combines CAPE’s speed and data maturity with Socotra’s robust ecosystem, to help modernise underwriting and straight-through processing for carriers.”
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