South Shore Insurance Underwriters (SSIU), a leading insurance provider based in Alabama, and FireBreak Risk, an AI insuretech alumni of Lloyd’s Lab, have joined forces to introduce a new technology for property insurance inspections. The “SSIU Inspect” mobile self-inspection app provides policyholders with a convenient and efficient way to conduct inspections for insurance policy renewals.
“This collaboration between SSIU and FireBreak is a testament to the power of innovation and partnership in the insurance industry,” said Rosie Denée, who runs Lloyd’s Lab. “We are proud to have supported FireBreak in their journey from Lloyd’s Lab to the market.”
FireBreak completed a proof of concept (POC) with SSIU last month, showing the effectiveness and potential of the inspection and mitigation technology. The two companies have now signed a commercial agreement to offer it to SSIU policyholders.
“We were impressed by the FireBreak team’s ability to quickly deliver a solution that met our needs,” said Andy Fowles, SSIU Chief Underwriting Officer. “They delivered the automated, structured data pipeline that our inspection team needs to reliably scale and optimize our business. FireBreak is an example of how AI can be useful for insurance.” Fowles was a mentor to FireBreak at Lloyd’s Lab Cohort 10, which completed in July.
“We're thrilled to be working with the SSIU team,” said Kate Stillwell, FireBreak Co-Founder. “They are truly an agile and data-driven insurance company. But this is just the beginning. We're continuing to gain interest from the wider market, and we’ve started engaging with other insurers who want to encourage risk mitigation.”FireBreak’s mobile technology for self-inspection eliminates the need for in-person inspections.
FireBreak uses AI to ensure that inspections are accurate and consistent, and provides residents with top actions to harden their home against natural disasters. When residents take those actions and re-inspect, they better qualify for insurance renewals or discounts.
For more information contact:
Tac Leung
FireBreak Co-founder
tac@firebreakrisk.com
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