Kettle, an AI-powered insurance and reinsurance company, has teamed up with RLI, a specialty insurer based in the U.S., to launch a new commercial property insurance product. This product offers coverage for multiple types of risks, including wildfires, for commercial properties in areas where it's been hard to get insurance.
The new insurance will mainly focus on businesses in California and Nevada and will be available through selected wholesale brokers. The policy is underwritten by Mt. Hawley Insurance Company, which is part of RLI and has a high rating of A+ (Superior) from AM Best.
In addition to the new insurance product, RLI has also made a financial investment in Kettle, aiding the company in growing and improving its AI-powered risk analysis and insurance services.
Isaac Espinoza, CEO of Kettle, said the company’s goal is to use data and AI to help protect businesses and people from the increasing risks caused by climate change.
Executive Statement
According to Isaac Espinoza, CEO of Kettle, Kettle’s mission is to leverage data and artificial intelligence to better protect people and businesses from the growing threat of climate change. This partnership combines their advanced AI and deep learning models for catastrophic risk with RLI’s financial strength, commercial property insurance expertise, and superior customer service.
According to RLI Corp. Chief Operating Officer, Jen Klobnak, Kettle brings a differentiated offering to the market through its proprietary risk modelling, providing an innovative approach to wildfire underwriting that complements RLI’s existing commercial property management solutions. This distribution partnership, along with their investment, reflects RLI’s confidence in Kettle’s team as well as technology, and their shared commitment to delivering sustainable insurance solutions in underserved markets.