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$BTC Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers Financial services firm Moody’s announced that it has agreed to acquire Cape Analytics, a geospatial AI startup, for an undisclosed sum. The deal, which is expected to close in Q1, subject to customary closing conditions, will give Moody’s access to Cape’s geospatial AI analytics technology for insurance underwriting. With the tech, Moody’s plans to create a property database capable of delivering “address-specific” risk insights for its insurance clients, said Moody’s CEO Rob Fauber. Through partnerships with geospatial image providers, Cape obtains satellite images, then applies in-house algorithms to extract structured data, like whether a property has solar panels and the condition of a roof, and transform it into a structured property information database. Kottenstette said in a blog post that he believes Moody’s, combined with Cape, can bring “a much deeper set” of solutions to carriers’ underwriting workflows and “enable a much more complete view” of risk. Moody’s customers can expect more in-depth, property-specific data, Kottenstette added, including building characteristics, average annual loss estimates, valuations, and more. Credit: TechCrunch #bitcoin
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A new culture is coming "DOGUN"
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