Source: IBS Intelligence
Moody’s Corporation, has agreed to acquire CAPE Analytics, a provider of geospatial AI intelligence for residential and commercial properties.
The acquisition will bring together Moody’s Intelligent Risk Platform and catastrophe risk modelling for the insurance sector with CAPE’s geospatial AI analytics, creating a sophisticated property database capable of delivering instant, address-specific risk insights.
“I continually hear from our customers that they are seeking more precise and actionable information as they evaluate an evolving set of risks,” said Rob Fauber, President and Chief Executive Officer of Moody’s. “By combining our CAT risk models with CAPE’s AI-powered property risk intelligence, we will provide our customers with the most advanced property risk analytics available in the industry, enhancing insights and decision-making across the insurance lifecycle.”
With the acquisition of CAPE, Moody’s will provide its customers with more in-depth, property-specific data than ever before, including building characteristics, firmographic data, peril risk and average annual loss estimates, geospatial AI analytics, valuation, probability of default models, and more. This rich reservoir of data will allow insurance carriers, reinsurers, and various financial stakeholders to determine better property exposures, vulnerabilities, valuations, and the risks posed by natural hazards such as wildfires, hurricanes, and hailstorms.
Read the full article: https://ibsintelligence.com/ibsi-news/moodys-to-acquire-cape-analytics-to-offer-insurance-risk-models/
