Cotality's underwriting platform, UnderwritingCenter™, along with its embeddable product suite, optimizes end-to-end underwriting efficiency and effectiveness. This comprehensive solution set contains proprietary AI functionalities that enable underwriters to do more with data so that they can perform their jobs more quickly, efficiently, and accurately.
Cotality AI Virtual Survey
Within UnderwritingCenter™, Cotality’s AI Virtual Survey scans aerial property images across the country, identifying hazardous conditions and geospatial risks. The solution also assesses Insurance-to-Value (ITV) for every structure.
AI Virtual Survey analyzes property exterior and interior photos from Cotality’s extensive real estate database, conducting accurate, imagery-based virtual inspections for any property. Working with this tool, underwriters can get more done, with greater accuracy, without leaving their desks.
The AI detects and highlights exterior risk attributes that frequently elude the human eye, ensuring that underwriters get a complete picture and full understanding of every element attached to any property. This saves hours of time for underwriters, for every property.
Without the combined power of AI and imagery, underwriters would otherwise review aerial images from drones and then take analog notes of the hazardous conditions present. Worse, costly and intrusive onsite inspections are necessary.
Cotality's Underwriting Residential and Commercial Valuation solutions contain Prefill, which determines accurate Replacement Cost Values (RCVs) based on the most recently released property and construction cost data. Leveraging AI, Prefill processes new information daily.
Prefill automatically populates an underwriter’s estimate with data from a comprehensive property intelligence source, including information from over 100 million residential and 16 million commercial properties. Users instantly get relevant structural risk and value data, allowing them to confidently establish policies that provide the right coverage and premiums—all based on accurate, up-to-date risk and property history information.
AI enables Prefill to extract and verify features from imagery, filling confusing or easy-to-overlook data gaps for underwriters. Prefill also automatically formats, standardizes, and maps all data to fuel accurate RCV calculations.
By going beyond simple data aggregation to curate multiple sources, AI-driven Prefill generates a single, unified, high-confidence property record that identifies meaningful exposure risks for every unique property.
RiskMeter offers 100+ hazard, risk, and property reports to accurately identify and understand risk at an individual property level or across a portfolio in a wide variety of high-peril areas.
First Floor Height™
Cotality's First Floor Height solution removes all the complexities and third-party sources traditionally involved in determining the first-floor height of any structure.
A crucial metric for determining flood risk, first floor height is defined as the lowest finished floor at or above the lowest adjacent grade, excluding enclosures and garages. Insurers must factor accurate first floor height into their flood insurance rating systems and policy issuance.
With AI, Cotality's First Floor Height processes comprehensive real estate imagery and appraisal data to calculate first floor height measurements consistently and with address-level precision. This model removes human error from calculations and eliminates the need for third-party information sources, such as elevation certificates, during the underwriting process.
Wildfire Mitigation Score™
The wildfire landscape is constantly changing, especially in California, where insurers need advanced technology to help them understand nuances in the risk landscape.
The California Department of Insurance now requires all California insurers to establish new insurance rating models for wildfire insurance policies so that they include 12 newly identified mitigating factors.
In response to these new demands and challenges for insurers, Cotality developed the Wildfire Mitigation Score—a comprehensive risk score that uses the AI and machine learning of Cotality’s Weather Verification Services. This score evaluates a property on a scale of one to 100, based on the owners' verifiable wildfire mitigation actions. The tool accurately identifies and quantifies the 12 required factors for various structures.
Fire Resiliency™
Cotality’s Fire Resiliency produces a score to reflect a property’s vulnerability to non-weather-related fires. This AI-generated score predicts both the frequency and severity of fire loss claims for insurance carriers and reflects the probability that a property would succumb to total loss from a fire.
To calculate the score, Fire Resiliency analyzes community fire response data, geographical and fire history data, and structural characteristics for each property. All of this information is sourced directly from Cotality’s proprietary property database.
Positioning this complex data as a straightforward score, Fire Resiliency gives property insurance providers a simple value to use for conducting complete portfolio analyses. It also enables underwriters to confidently write more fire insurance policies with greater accuracy.
Cotality incorporates AI into its weather solutions—a set of digital tools that provide insurers with automated, data-driven models and forensic information about a full spectrum of natural events, including severe convective storms, wildfires, and wind.
Powered by comprehensive property, weather, and risk insights, these models allow carriers to optimize their claims verification strategies.
Verify™
Cotality Weather Verify™ utilizes machine learning to provide forensic weather event verification maps and reports. With forensic data-backed insights on weather activities, insurance carriers can understand specific impacts on each policyholder.
Verify also enables insurers to predict the likelihood, frequency, and severity of future storms that could impact their property portfolios. This intelligence comes through hail verification reports, hail size maps, wind verification maps, wind speed maps, and more.
AI has the power to provide powerful insights about the future. Cotality Catastrophe Risk Management Solutions fuse comprehensive property data with sophisticated AI to assess and predict catastrophe-related risk and loss at the address level.
These predictive models allow users to rapidly determine their portfolio exposure to perils and make data-driven decisions on risk selection and mitigation.
AI-driven catastrophe risk models combine insights from Cotality Weather Verify™ with scientific analyses of dozens of historical and predictive data sources. They provide granular datasets to compute clear-cut hazard risk scoring for floods, storm surges, hurricane winds, wildfires, earthquakes, hail, tornadoes, straight-line winds, and sinkholes.
Cotality's catastrophe risk solutions allow insurance providers to straightforwardly identify “good risk” properties.
In addition to increasing a carrier's capacity to smartly take on more risk, these systems also enable insurance providers to establish fair, comprehensive insurance rating systems.
Cotality Restoration solutions are infused with CoreAI technology, empowering every professional—from office staff to field crews—to execute projects with unmatched full-cycle efficiency and accuracy. By providing a holistic set of specific property data at the outset, our AI tools drive precision through every phase of the restoration lifecycle.
Image Analytics™
Integrated into Cotality's job management platform, DASH, the AI-powered image analytics function automatically scans each image a user uploads into the system and instantly produces a complete set of property data for every structure in each picture.
These descriptions generate as photo tags and include property condition, building grade, home features, kitchen quality grade, the presence and type of damage, and more. These auto-populated descriptors for each photo paint a full picture of projects for managers and technicians, instantly giving them important insights for planning and resourcing.
Leveraging Image Analytics, technicians are no longer chained to a device for manual data entry. Efficiency translates to the entire organization, enhancing database quality through consistent, clean recordkeeping.
Mitigate™
Mitigate is a powerful water mitigation platform that streamlines workflows, providing technicians with a central, flexible system for real-time data collection. With a field operation-friendly user interface, consistent across any device and operating system, Mitigate simplifies the water loss documentation process and preserves data accuracy across project lifecycles.
Using LiDAR technology, Mitigate’s room scanning feature enables technicians to create floor plans that include dimensions instantly while onsite—directly from their compatible iOS device. The solution instantly produces diagrams that are adjustable, directly from the field.
Artificial intelligence provides photo tags for captured images, identifying all the structural and non-structural objects in the room.
Mitigate shortens project lifecycles and infuses greater accuracy into every step of the water loss documentation process, driving better estimates and reporting.
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