ZestyAI Gains Regulatory Approval for Severe Convective Storm Suite in Five New States: A Game Changer in Weather Technology
ZestyAI, a prominent player in the field of property and climate risk analytics, has recently received regulatory approval for its innovative Severe Convective Storm (SCS) Suite in multiple states including Oklahoma, North Carolina, Louisiana, Wisconsin, and Arkansas. This significant development expands ZestyAI’s risk assessment capabilities to over 12 million residential and commercial properties across these regions, as reported by FF News.
The Impact of Severe Convective Storms
Severe convective storms have proven to be a major concern for insurers, causing a staggering $58 billion in insured losses in 2024 alone, marking it as the second-costliest year in recorded history. According to a recent analysis by ZestyAI, more than 2.1 million properties in the newly approved states are at high risk for hail-related claims, which could lead to over $31 billion in roof replacement costs.
What is ZestyAI’s SCS Suite?
ZestyAI’s SCS Suite leverages cutting-edge AI-powered property and climate risk analytics to enable insurers, lenders, and real estate firms to perform advanced risk assessments. The technology focuses on precise, property-level evaluations by analyzing local climate patterns and specific property characteristics.
Key Features of the SCS Suite
- Z-HAIL™: This model predicts which roofs are most likely to sustain hail damage and estimates claim sizes based on structural characteristics and previous damage.
- Z-WIND™: Utilizing AI-driven 3D analysis, this model assesses roof condition and complexity, providing predictive insights into the likelihood and severity of wind-related claims.
- Z-STORM™: This model evaluates how climate factors interact with unique property features to forecast the frequency and severity of storm claims.
Expanding Regulatory Approval
With regulatory approvals now secured in 14 states, ZestyAI’s SCS models cover more than 44 million properties across the Midwest, Great Plains, and Southern regions of the United States. This expansion is indicative of the insurance industry’s shift towards data-driven, property-level risk assessment methodologies.
Industry Insights
As stated by Bryan Rehor, ZestyAI’s Director of Regulatory Affairs, “Severe convective storms now cost insurers more than hurricanes, yet traditional underwriting tools lack the precision needed to keep pace with rising losses. These approvals underscore the insurance industry’s transition toward data-driven, property-specific risk assessment.”
For more insights into property risk analytics, you can visit ZestyAI’s official website or explore additional resources on Insurance Journal.
