The collaboration will leverage ZestyAI’s Z-PROPERTY and Z-FIRE models to streamline NEXT Insurance’s workflows and enhance decision-making.
The news follows Next Insurance‘s announcement of a new offering to better support small businesses with multiple operating locations across a single state, allowing single-entity small business owners with numerous locations to purchase workers’ compensation coverage through one single policy.
The partnership with ZestyAI enables NEXT Insurance to maintain its commitment to a fully digital purchasing experience while improving underwriting quality. The company aims to continue offering innovative and simplified insurance solutions for small businesses.
Z-PROPERTY uses high-resolution aerial imagery and AI analytics to assess various property risks, including roof condition, structural vulnerabilities, and environmental hazards. This provides insurers with granular data for more precise underwriting.
Z-FIRE, a wildfire risk assessment tool already used by a significant portion of California’s insurance market, incorporates data from over 2,000 historical wildfires, satellite imagery, and topographic information. This ensures that premiums accurately reflect wildfire exposure.
ZestyAI’s advanced analytics are designed to optimize risk selection and boost underwriting efficiency for insurers, while simultaneously offering policyholders better protection and more accurate pricing.
“ZestyAI’s peril-based risk models stood out for their ability to provide precise, actionable insights at scale, perfectly complementing our mission to help entrepreneurs thrive,” said Lance Poole, Head of AI Underwriting at NEXT Insurance.
“This partnership strengthens our underwriting capabilities by delivering advanced data analytics that allows us to offer a faster, fully digital purchasing experience while maintaining best-in-class underwriting. By streamlining workflows and enhancing decision-making, we’re able to create innovative, tailored insurance solutions that meet the unique needs of small business owners, all while staying true to our commitment to simplicity and excellence.”
Attila Toth, CEO of ZestyAI said “At ZestyAI, we are committed to bringing the power of AI-driven risk intelligence to the insurance industry. NEXT Insurance is redefining small business insurance with a fully digital experience, and we are proud to support that vision by providing precise, property-specific risk insights.”
He added: “With Z-PROPERTY and Z-FIRE, NEXT can enhance underwriting efficiency, optimize risk selection, and ultimately deliver smarter, more tailored coverage to small business owners across the country.”
