Kingstone Companies, Inc. (Nasdaq: KINS), a Northeast regional property and casualty insurance holding company, parent company of Kingstone Insurance, today announced a strategic partnership with Flyreel, Inc., the most advanced Artificial Intelligence (AI) platform for property insurance, to help customers manage risk and prevent loss through AI-assisted inspections. Flyreel’s revolutionary AI assistant guides homeowners through a customized self-inspection of their property, using their smartphone camera and advanced computer vision technology to document property features, as well as risks and hazards.
Kingstone’s customers have embraced the Flyreel experience, allowing them to conduct their home inspections at their convenience and on their terms, with no need for an in-person visit from an inspection service. More than 94% of users expressed satisfaction with using the AI assistant, with ease of use and the ability to conduct a contactless inspection as common reasons for the positive feedback.
The adoption of this technology has decreased processing time for Kingstone’s underwriters by providing high-quality, real-time data directly from the policyholder. The unprecedented access to the interior of the home has also raised awareness of potential risks and hazards previously unexposed to Kingstone.
“Flyreel’s AI powered-app offers Kingstone a long-term solution for customer-first inspections,” said Robert Jacobson, Kingstone’s Vice President of Operations. “Overall, we are seeing a quicker, smoother, and more comprehensive inspection solution for both the customers and underwriters. Kingstone is gaining actionable data in a new way that streamlines the process while also improving the outcomes.”
“We’re honored to support Kingstone Insurance in their mission to provide a best-in-class experience to their customers, all while improving underwriting outcomes and efficiency,” said Cole Winans, CEO of Flyreel. “We’re excited to be partnering with Kingstone as they remain steadfast in their commitment to protecting their homeowners with the best of today’s technology.”
Visit https://www.kingstoneinsurance.com to learn more about Kingstone Insurance.
Flyreel provides Total Property Understanding™ for underwriting, loss control and claims. Flyreel’s advanced AI assistant guides users through fully configurable workflows. As users scan their property with their smartphone camera, Flyreel’s proprietary computer vision technology automatically documents critical property data like hazards, risks, features, materials and more. Flyreel’s AI Assistant can “react and respond” to data collected by the policyholder, adapting and customizing conversational workflows based on the unique attributes that it “sees” in near real-time. To learn more about Flyreel, visit https://www.flyreel.co/.
About Kingstone Companies, Inc.
Kingstone is a Northeast regional property and casualty insurance holding company whose principal operating subsidiary is Kingstone Insurance Company (“KICO”). KICO is a multi-line carrier writing business through retail and wholesale agents and brokers. KICO offers primarily personal lines insurance products, as well as Physical Damage Only coverage to taxi, limousine, and transportation network vehicle owners in New York State. Actively writing in New York, New Jersey, Rhode Island, Massachusetts, and Connecticut, Kingstone is also licensed in Pennsylvania, New Hampshire and Maine.