ZestyAI has received approval from the Michigan Department of Insurance and Financial Services for its new severe convective storm suite. This comes at a crucial time as Michigan faces increasing weather-related insurance claims. Since 2019, the state has seen over $5 billion in insured storm damage, primarily from hail and straight-line winds. Just last summer, intense storms caused more than $1.2 billion in insured losses.
ZestyAI’s platform uses artificial intelligence to assess the risk of storm damage for individual properties. It does this by looking at local weather patterns and specific property details. Bryan Rehor, ZestyAI’s Director of Regulatory Affairs, emphasized the importance of having accurate tools for insurers, especially as severe weather becomes more common and expensive. He noted that this approval will provide Michigan insurers with valuable insights to improve their underwriting processes and help lower avoidable losses.
With this approval, Michigan becomes the 17th state to endorse ZestyAI’s storm suite, highlighting the growing need for innovative solutions in the insurance industry. As weather patterns continue to shift, tools like these could play a vital role in managing risk and protecting homeowners.