The Cincinnati Insurance Company Partners with Zesty.ai to Assess Wildfire Risk at the Individual Property Level
The deal will give homeowners premiums that accurately reflect risk and reward mitigation efforts
Zesty.ai, the leader in climate risk analytics powered by Artificial Intelligence (AI), announced that The Cincinnati Insurance Company has signed a long-term contract to fully integrate Z-FIRE across the Cincinnati Insurance portfolio. With Z-FIRE, Cincinnati insurance agents are able to assess wildfire risk using an AI model that’s been trained on more than 1200 wildfire events across several decades and accounts for the property-level factors that contribute to wildfire risk, compared to the regional perspective that legacy models rely on.
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“We knew we needed a modern solution to improve the accuracy of fire risk assessment, and while we evaluated several options, we were immediately impressed with Z-FIRE’s ability to provide precise risk scores for individual properties at scale,” said Scott Schuler, VP of Product Management & Head of Personal Lines for The Cincinnati Insurance Company. “Z-FIRE empowers our agents with the insights they need to confidently offer coverage for homes that legacy models might deem too high risk, which increases revenue while simultaneously giving homeowners more coverage options. It’s a huge value add for our business — especially as it enables us to grow confidently in western states like California.”
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When assessing risk, Z-FIRE considers building materials, topography, historical weather data, and critically, factors extracted from high-resolution imagery like vegetation clearance and mitigation efforts, which legacy models fail to evaluate. It then combines these details with actual loss data to derive a predictive risk score, giving insurance carriers a much more accurate risk metric to inform underwriting, while taking into account many of the home hardening efforts taken on by property owners.
“We were immediately impressed with Zesty.ai’s ability to provide precise risk scores for individual properties at scale,” said Scott Schuler, assistant vice president, Personal Lines – Product for The Cincinnati Insurance Company. “Z-FIRE enhances our current wildfire risk assessment tools, increasing our teams’ confidence in writing more business for the independent agents who represent us while simultaneously giving homeowners more coverage options.”
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