Specialty re/insurer Canopius has partnered with technology start-up Arturo on artificial intelligence (AI) and deep-learning property analytics.
The integration of Arturo’s AI-powered technology will enable Canopius to gain access to the physical property characteristic and predictive analytics using the latest satellite, aerial, and ground-level data.
As a result, Canopius will be able to make more informed and differentiated pricing decisions at the point of underwriting.
Canopius chief digital officer Marek Shafer said: “Arturo’s, AI-powered image analytics capability is hugely impressive. Canopius is excited to be harnessing this pioneering technology, which will help to fine-tune our risk selection process and improve point-of-sale underwriting.”
Arturo CEO John-Isaac Clark said: “Arturo was built from the ground up within American Family Insurance and we deeply understand the specific challenges our insurance customers are trying to solve.
“We are incredibly excited to announce our relationship with Canopius and looking forward to working together to further enhance our product to meet their current and future needs.”
Canopius has underwriting operations in Bermuda, Ireland, Netherlands, Singapore, China, Switzerland, as well as the UK and the US.
The company underwrites businesses via Lloyd’s Syndicate 4444, as well as a US surplus lines insurer Canopius US Insurance.