Cape Analytics

Cape Analytics is a data provider which draws on computer vision, geospatial imagery, and machine learning to extract property data for insurers. The cloud-based platform provides “near inspection-quality data of high-value property features”. What’s more, the platform integrates directly into carrier quote engines via an API, allowing them to seamlessly utilise the structured property data for improved risk analysis.

Their innovative platform aggregates key data for insurers by applying machine learning technology to turn geo-spatial imagery into a database of the most pertinent property features in real-time and at scale. The company runs data from fixed-wing and satellite imagery partners through the platform’s deep learning algorithms to extract structured actionable intelligence. By layering the intelligent inferences onto property data, insurers are able to provide a much more accurate quote for customers without the lengthy process of manual property inspection. Currently, their database holds more than 70 million single-family U.S. homes and will only grow as the company expands into commercial buildings, apartments, condos and the like.

In March 2017, Cape Analytics announced a partnership with NearMap, gaining access to the company’s US aerial imagery library and expanding the pool of image data at their disposal.

The company added $17m in Series B funding from XL innovate, the VC arm of insurer XL Catlin in 2018.

In 2019 Cape Analytics announced it had partnered with The Hartford to provide the P&C insurer with property intelligence through AI and geospatial imagery. Other partnerships Cape Analytics confirmed in 2019 include CSAA, which confirmed a deal to use Cape Analytics' Roof Condition Rating tool.

In January 2020 Cape Analytics raised an undisclosed Series C from State Farm Ventures. The company said it will use the capital to further the development of its property insurance capabilities.

In April 2021 Cape Analytics announced it had expanded into Canada.

Kin partnered with Cape Analytics in April 2020, leveraging the latter's geospatial data to develop customised policies for individual property needs.

In June 2021 Hippo partnered with Cape Analytics to further automate the former's property analysis capabilities.