NEXT Insurance to enhance underwriting processes with ZestyAI partnership

ZestyAI, a provider of AI-driven climate and property risk analytics, has partnered with commercial insurer NEXT Insurance to bring AI- powered risk insights to small business insurance.

Under this agreement, NEXT will adopt ZestyAI’s Z-PROPERTY and Z-FIRE models to enhance its underwriting processes with precise, property-level risk insights.

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.

“With Z-PROPERTY and Z-FIRE, NEXT can enhance underwriting efficiency, optimise risk selection, and ultimately deliver smarter, more tailored coverage to small business owners across the country.”

Z-PROPERTY leverages high-resolution aerial imagery and AI-powered analytics to provide a comprehensive assessment of a property’s condition.

This includes evaluating the roof condition, identifying structural risks, and pinpointing any environmental hazards.

Z-FIRE focuses specifically on wildfire risk assessment. The tool uses high-resolution aerial imagery and AI-powered analytics to assess roof condition, structural risks, and environmental hazards, helping insurers make more informed underwriting decisions

In California, where wildfires are a significant threat, Z-FIRE has gained widespread trust, with over one-third of the insurance market relying on its insights, the firms noted.

It delivers highly accurate wildfire risk assessments based on 2,000+ historical wildfires, satellite imagery, and topographic data, ensuring that premiums reflect true wildfire exposure.

Lance Poole, Head of AI Underwriting at NEXT Insurance, stated: “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.

“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.”

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