Home insurance quotes could become more accurate as a result of work by Palo Alto-based Cape Analytics, which raised $14 million to use computer vision and deep learning to improve automated property underwriting for insurance companies.
The company brings geo-imagery from satellites into its cloud-based platform, and then runs the images through their deep learning algorithms that are able to understand the image and extract structured data.
Using CUDA, cuDNN and GPUs on the Amazon cloud to train the deep learning models, Cape Analytics is then able to detect the property condition, square footage, roof condition, solar panels and other details.
The investment will help scale the company’s platform to offer nationwide coverage, said Ryan Kottenstette, CEO and cofounder of Cape Analytics
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A Startup is Automating Home Insurance Quotes With AI
Nov 10, 2016
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AI-Generated Summary
- Palo Alto-based Cape Analytics raised $14 million to apply computer vision and deep learning for more accurate home insurance underwriting.
- The company processes satellite geo-imagery through deep learning algorithms to extract structured property data such as roof condition, square footage, and solar panel presence.
- Training uses CUDA, cuDNN, and GPUs on the Amazon cloud to build models that assess property condition at scale.
Next Step
- Read the VentureBeat article for additional details on the funding and technology.
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