Generali Global Corporate & Commercial (GC&C) and Ticinum Aerospace have announced a strategic partnership. The two companies co-developed Deep Property, a technology that combines satellite data with street-level images.
By embedding Deep Property technology into its risk-modeling processes, Generali can obtain a refined map of its property portfolio, enabling it to assist clients in taking steps to mitigate natural catastrophe risks, the company said. Deep Property uses an artificial intelligence-based report to extract risk-relevant characteristics of buildings, including number of floors, year of construction, and what materials have been used in construction, Generali said.
“Underwriting has always been about expert data management, and corporate underwriting is now on the verge of becoming even more science-based,” said Manlio Lostuzzi, CEO of GC&C. “Over the last few years, GC&C has invested heavily in building, improving and broadening internal systems able to cater for the ever-changing underwriting demands. Thanks to the collaboration with Ticinum Aerospace and the co-developed Deep Property technology, GC&C further strengthens its ability to meet the insurance needs of our clients, while guaranteeing transparency as well as a smoother and faster claims management.”
“We are very proud of this achievement,” said Gianni Cristian Iannelli, Ticinum Aerospace CEO and head of the Deep Property development team. “It is a pleasure for a startup like us to have gained the attention of Generali and have the opportunity to cooperate with such a big plater. Our services will certainly benefit from this collaboration, giving the possibility to Deep Property to acquire even more value in the market and establishing Ticinum Aerospace as a partner you can rely on also for critical tasks such as portfolio evaluation. We are proud of this result, and thankful to Generali to place trust in our company.”
The partnership between Generali and Ticinum Aerospace was awarded the “best collaboration between company and startup” prize by the Italian Insurtech Association.