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Moody’s agrees to acquire Cape Analytics, which develops geospatial AI for insurance providers
Financial services firm Moody's announced that it has agreed to acquire Cape Analytics, a geospatial AI startup, for an undisclosed sum.
Kottenstette said in a blog post that he believes Moody’s, combined with Cape, can bring “a much deeper set” of solutions to carriers’ underwriting workflows and “enable a much more complete view” of risk. “Moody’s access to broader, more diverse information gives us the ability to further broaden and deepen Cape solutions with the inclusion of additional, orthogonal, risk-relevant input data,” Kottenstette wrote. Cape adds to Moody’s other property-insurance-related mergers and acquisitions, including Praedicat, a provider of casualty insurance analytics, and RMS, a climate and natural disaster risk modeling firm.
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