CHICAGO (PRWEB) July 11, 2019
Arturo, a deep-learning property analytics company incubated within American Family Insurance, and located in Chicago, IL, today announced a partnership with Hippo Insurance, the California-based Insurtech company that is transforming home insurance.
The integration of Arturo’s deep-learning property analysis capabilities, which provides near-real-time physical property characteristics, now integrates with Hippo’s proprietary policy management system. The result has already advanced Hippo’s quotation, underwriting, and renewals capabilities for customers resulting in better, more affordable, and truly modern home insurance.
“Because Arturo was built from the ground-up inside American Family Insurance, a Top 10 US P&C Insurer, we deeply appreciate and understand the specific and important challenges our partners are trying to solve,” said John-Isaac Clark, CEO at Arturo. “We are incredibly excited about announcing our relationship with Hippo Insurance and tirelessly work to integrate our collective products in a way that furthers the customer experience in home insurance.”
Arturo’s AI powered insights allows Hippo to better understand the physical world around a home, by analyzing property photos from satellite, aerial, drone, and ground-level imagery. The result is detailed property information, often in under 5 seconds, which Hippo uses to create highly accurate pricing, delivering home insurance quotes in under 60 seconds and at up to 25% below the industry average. Hippo ultimately can better optimize the underwriting and renewal process, delighting customers and reducing expense ratios.
“Hippo’s partnership with Arturo has allowed us to pre-fill very valuable property data and information directly into the customer’s application including roof material, pool presence, and more,” said Michael Gulla, Senior Director of Underwriting at Hippo. “These insights streamline the client’s onboarding process, while helping us define a highly accurate initial rating and top-quality underwriting requirements.”
Arturo is a deep learning spin-out from American Family Insurance relentlessly committed to delivering highly accurate structured data observations and predictions for residential and commercial properties for use in the Property & Casualty (P&C) Insurance, Reinsurance, Lending, and Securities markets.
Leveraging the latest satellite, aerial, and ground-level imagery, as well as unique proprietary data sources, Arturo’s deep learning models provide differentiated property data unparalleled by any other provider – on-demand and in near-real-time. To learn more about Arturo, Inc., please visit: http://www.arturo.ai
Hippo is on a mission to transform home insurance for the modern household. Among its many innovations, Hippo allows homeowners to get a quote and purchase home insurance online in 60 seconds or less, save up to 25 percent compared with traditional insurers, and obtain smarter coverage for modern households. This includes protection for possessions like appliances, consumer electronics, and home offices. Founded in 2015 by Assaf Wand and Eyal Navon, Hippo made its debut in the insurance marketplace in April 2017 and has raised $109 million to reinvent home insurance through its initial funding rounds. The company is headquartered in Mountain View, California. For more information, visit http://www.myhippo.com.