Press Release
Mesa, Ariz., March 23, 2023: The Mahoney Group, one of the largest independent insurance and employee benefits brokerages in the U.S., has acquired a stake in Athena Intelligence, a cutting-edge artificial intelligence company specializing in wildfire risk analysis.
Athena Intelligence’s AI technology amasses extensive data from various wildfire and environmental agencies and organizations. In its raw form, the data is disaggregated and unstructured. But Athena’s Voice of the Acre® technology converts it into a practical, computable format.
This approach enables the Sacramento, Calif.-based company to gauge hazard levels and the probability of wildfires in specific areas. It also can predict the severity and intensity of a potential wildfire and forecast the exposure and potential loss due to wildfires.
“We use machine learning to solve for the efficient use of, and access to, data that already exists, but is difficult to use in scalable business decisions,” David Sypneiski, CEO and founder of Athena Intelligence, explained.
The increasing frequency and severity of wildfires in recent years have played havoc on the commercial property market, resulting in devastating property losses and multibillion-dollar claims.
Insurance carriers will need to adopt Athena’s technology for homeowners and business owners to fully benefit from it.
“Our relationship with Athena Intelligence will help us continue to assist our clients as well as attract new clients through our innovative risk management strategies and capabilities,” said David Cummard, Executive Vice-President at The Mahoney Group.
ABOUT THE MAHONEY GROUP
Established in 1915 and headquartered in Mesa, Ariz., The Mahoney Group’s areas of focus include real estate, Native American tribes, construction, self-storage, human services and other nonprofits, and hospitality. The Mahoney Group employs more than 200 insurance professionals.