Risk Theory, a vertically integrated specialty insurance platform, has selected ZestyAI’s Z-FIRE model to assess wildfire risk for Jupiter Platinum Home, a newly launched excess and surplus (E&S) homeowners programme targeting high-value properties in California.

The programme is designed for homes that can be difficult to place through the admitted insurance market or existing E&S products, particularly properties exposed to elevated wildfire risk. Jupiter Platinum Home accepts homes with dwelling limits of at least $750,000 and total insured values of up to $25m.

Risk Theory will use Z-FIRE to assess wildfire exposure at an individual property level, giving underwriters more detailed information to support risk selection and pricing decisions.

The launch comes as California’s homeowners insurance market continues to face challenges around wildfire exposure, with some property owners struggling to secure coverage or facing non-renewals as insurers reassess their exposure.

Traditional wildfire risk assessments can rely heavily on broader geographic or territorial measures, potentially making it difficult to distinguish between properties within the same area. Z-FIRE instead uses machine learning to assess factors including a property’s defensible space, surrounding vegetation, terrain, construction materials and local fire behaviour.

The model combines hazard and vulnerability factors to provide an assessment of the potential wildfire risk associated with an individual property.

Risk Theory operates a group of managing general agents providing distribution, underwriting, claims, analytics and compliance services across specialty insurance markets. The company focuses on developing insurance businesses around areas where it sees opportunities to differentiate through underwriting and technology.

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