Reported 1 day ago
Moody's has announced its agreement to acquire Cape Analytics, a geospatial AI startup focused on providing analytics technology for insurance underwriting, for an undisclosed amount. This acquisition aims to enhance Moody's property database with address-specific risk insights, catering to the growing adoption of AI in the insurance industry. Founded in 2014, Cape has established partnerships that allow it to collect and analyze satellite imagery, turning it into structured property data that informs pricing and underwriting strategies for insurers and banks. The acquisition is expected to close in the first quarter of 2025.
Source: YAHOO