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        ZestyAI, a provider of AI-based property risk analytics solutions, has partnered with Florida Peninsula Insurance, a provider of homeowners insurance. The agreement aims to improve the Florida Peninsula's understanding of property-level risk.
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        Under the agreement, Florida Peninsula plans to use ZestyAI's Z-PROPERTY Location Insights solution to obtain property data from multiple sources using advanced computer vision and machine learning.
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        This collaboration will enhance their underwriting accuracy. Tools such as ZestyAI's platform, which identifies high-risk landscape features without requiring site visits, are expected to improve operational efficiency and transparency for policyholders and reinsurers.
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        <b>Analyst QuickTake: </b>
        This partnership follows ZestyAI&rsquo;s collaboration with 
        <a href="https://sp-edge.com/updates/24446">
          Cytora
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        , a UK-based insurance company, to integrate ZestyAI's solution into Cytora's platform to augment underwriters with climate-related risk data. As a result, Cytora was able to make informed underwriting decisions through a comprehensive assessment of a property's exposure to natural disasters.&nbsp;
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    <a href="https://zesty.ai/news/florida-peninsula-insurance-selects-zestyai-for-precision-risk-assessment">
      Press release
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Climate Risk Analytics

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 <p>An AI-powered property risk analytics provider, ZestyAI, has entered into a partnership with homeowners insurance provider, Florida Peninsula Insurance. This partnership is aimed at enhancing Florida Peninsula's understanding and analysis of property-level risk.</p>
 <p>The deal outlines that Florida Peninsula will utilize ZestyAI's solution, Z-PROPERTY Location Insights. This solution employs advanced machine learning and computer vision to gather property data from various sources.</p>
 <p>The collaboration is expected to improve underwriting accuracy and operational efficiency. Specifically, the use of ZestyAI's platform, which can identify high-risk landscape features without needing site visits, will provide increased transparency for policyholders and reinsurers.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership follows ZestyAI’s collaboration with <a href="https:<br>
//sp-edge.com/updates/24446"> Cytora </a> , a UK-based insurance company, to integrate ZestyAI's solution into Cytora's platform to augment underwriters with climate-related risk data. As a result, Cytora was able to make informed underwriting decisions through a comprehensive assessment of a property's exposure to natural disasters.&nbsp;</p>

ZestyAI partners with Florida Peninsula Insurance to enhance property risk analytics

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 <p>Arbol, a parametric insurance provider, has unveiled a new subsidiary, Lilypad Insurance, catering to insurance needs of homeowners and property owners in coastal regions. The company is set to start operations in Louisiana, validated by a Certificate of Authority received from the Louisiana Department of Insurance. </p>
 <p>To bolster its market position, Lilypad Insurance will acquire Centauri Specialty Insurance Company and Centauri National Insurance Company. This acquisition will magnify Lilypad's market visibility and facilitate the expansion of its services in key markets. Ricardo Espino, previously the CEO and co-founder of Centauri Insurance, has been appointed as the new CEO of Lilypad Insurance.</p> 

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Arbol launches Lilypad Insurance; acquires Centauri Insurance for coastal markets

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 <p>Climavision, a company offering radar-as-a-service solutions, has set up a weather radar in Allen County, Kansas. This system aims to rectify a low-level coverage gap in eastern Kansas and is slated to be operational later in the month in Humboldt.</p>
 <p>This setup in Humboldt is the inaugural of three radars planned for the state and complements several systems already functioning across the US and Midwest. The plan is to have a minimum of 50 radars functioning across the US by the end of 2024, bringing the total network to over 200 radar systems.</p>
 
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Climavision installs weather radar in Kansas

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 <p>Meteomatics, a Switzerland-based weather intelligence company, is partnering with NVIDIA to deliver AI-based real-time weather forecasts within a 90 m radius.</p>
 <p>The two companies plan to conduct pilot programs with three energy companies, ENGIE, Louis Dreyfus Company, and TotalEnergies. The aim is to test the capability to deliver weather forecasts in a matter of minutes instead of hours.</p>
 <p>Meteomatics uses physics-based weather models for hyper-local weather forecasts hours before the actual weather events. The use of NVIDIA's cloud APIs enables Meteomatics to deliver AI-based weather forecasts with a much quicker turnaround time.</p>
 <p>Furthermore, Meteomatics plans to make its AI-powered weather data delivery service available to the broader business community. The initial focus will be on forecasting for renewable energy, plus related insurance and trading sectors.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This collaboration with NVIDIA came after Meteomatics secured an <a href="https:<br>
//sp-edge.com/updates/26263"> undisclosed strategic investment </a> from Lockheed Martin Ventures last month. The funds will be used to scale its high-resolution weather and climate technology, expand into new industries such as energy, aviation, insurance, defense, and government, and enter new markets.</p>

Meteomatics to deliver NVIDIA-powered AI-based weather forecasts

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<p>Jupiter Intelligence, a company specializing in artificial intelligence and machine learning-driven climate risk analysis, has joined forces with Jones Lang LaSalle (JLL), a real estate and investment management corporation listed on the New York Stock Exchange.</p>
<p>JLL will incorporate Jupiter's advanced climate risk analytics into its services. This innovation will strengthen JLL’s capability to design effective decarbonization strategies. It will also ensure compliance with regulations such as the new climate risk disclosure rule by the US Securities and Exchange Commission.</p>
<p>Thanks to this partnership, JLL will be able to offer clients deeper insights into the potential climate-related risks to their properties and investment portfolios. Consequently, it will aid clients in making informed decisions concerning real estate investments, asset management tactics, and risk prevention methods.</p>

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Jupiter Intelligence partners with JLL to deliver AI-powered climate risk analytics

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 <p>AI-based startup Reask, based in Australia, has partnered with AXA Climate, a climate risk insurer, for a windstorm insurance collaboration. The partnership employs Reask's Metryc, a hurricane modeling product, to deliver parametric windstorm insurance solutions. These solutions are based on location and wind speed data following global tropical cyclone landstorms.</p>
 <p>The partnership streamlines insurance claims and enables faster payouts for policyholders. Payments are based on objective weather data, rather than traditional loss evaluations.&nbsp;</p>
 <p>The aim of combining Reask's data analytics with AXA Climate's insurance know-how is to bring more efficient and accessible windstorm risk coverage. This could help policyholders, insurers, and communities at risk from such natural catastrophes.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Reask’s parametric windstorm insurance partnership with AXA Climate follows the company’s collaboration with <a href="https:<br>
//sp-edge.com/updates/19727"> Kettle </a> to develop reinsurance solutions for US hurricanes in June 2023. Reask’s climate data enabled Kettle to calculate insurance premiums accurately and timely by arranging payouts within 24 hours of an event. Kettle also used Reask’s global tropical cyclone model.</p>

Reask partners with AXA Climate for parametric windstorm insurance

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 <p>Swiss-based company, Meteomatics, has received a strategic investment from Lockheed Martin Ventures, with the amount being undisclosed. The funds will be used to develop its weather and climate technology further. The company also aims to branch into new sectors like energy, aviation, insurance, defense, and government, and expand its market reach.</p>
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Meteomatics secures undisclosed strategic investment for new market entry

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 <p>Riskthinking.AI has launched a commercial tool called Climate Digital Twin (CDT), available on the Bloomberg terminal. This Canada-based company's product offers predictive analysis for future climate change impacts on business operations, catering to banks, insurance companies, and multinational corporations. The tool is compatible with existing systems and assures data privacy.</p>
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Riskthinking.ai releases digital twin for climate risk analysis

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<p>Canada's climate intelligence platform, Manifest Climate, and GRC SaaS organziation Diligent have teamed up to create an extensive climate measurement and reporting solution using Diligent's ESG solution. Manifest will supply AI-powered climate analytics to allow corporate clients to perform gap analyses and peer bench-marking. The partnership aims to incorporate climate regulatory requirements, standards, and frameworks to improve their services.</p>
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Manifest Climate partners with Diligent to integrate climate assessment solutions

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 <p>Floodbase, a flood intelligence platform, has partnered with Capella Space, a space tech firm, to use high-resolution satellite data in Floodbase's flood insurance solution. The technology involves SAR (synthetic aperture radar) satellite imagery and an automated API that helps Floodbase measure flood intensity regardless of weather or time. The partnership also aims to foster research and development for better analytical capabilities and product collaboration.</p>
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