ZestyAI, a provider of climate and property risk analytics solutions powered by artificial intelligence (AI), announced it has received approval for use in rating and underwriting from the Texas Department of Insurance for its complete suite of Severe Convective Storm products. ZestyAI’s Z-HAIL™, Z-WIND™, Z-STORM™and Z-PROPERTY™ Roof Quality products now join ZestyAI’s predictive wildfire risk analytics product, Z-FIRE™, as some of the first AI-powered property-based risk models to be approved in the state.
Texas receives the highest number of annual hail claims of any US state, with over 1,100 hail events in 2023 alone. The high incidence of severe storms is why ZestyAI chose Texas as one of the first states to directly file its Severe Convective Storm product suite as a licensed Advisory Organization.
ZestyAI’s suite of storm products have already received approvals from the Colorado Division of Insurance and Illinois Department of Insurance earlier this year, with approvals from other states in the hail belt expected in the coming months. Leading insurers have already licensed the models to enhance underwriting, optimize their portfolios, and more accurately align premiums with Severe Convective Storm risk.
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