What's Inside

On January 13, 2025, Moody's announced its acquisition of CAPE Analytics. That deal didn't just consolidate two companies—it signaled the end of property intelligence as a neutral data layer and the beginning of vertical integration between property attributes and catastrophe modeling.

This report analyzes how property intelligence evolved in 2025 across 14 essays covering:

• The bundled vs. unbundled decision: A framework for choosing your architecture before your architecture chooses you

• Why bandwidth, not budget, became the limiting factor: Most carriers can operationalize 2-3 PI vendors before complexity overwhelms value

• The shift from imagery to insight: Why CUOs don't want pixels anymore—they want decision-grade outputs with confidence scores and reason codes

• AI's regulatory reckoning: How 300+ state filings, the NAIC Model Bulletin, and aerial imagery rules changed what "approved" means

• The rise of time-aware property intelligence: From static snapshots to continuous state—and why "digital twin" quietly entered production

• Vendor positioning across the stack: Who's building platforms, who's becoming infrastructure, and who's getting squeezed

Plus: Specific questions to ask vendors, decision frameworks for CUOs, and what the European invasion means for U.S. market dynamics.

Written for Chief Underwriting Officers at regional carriers who don't have time for vendor marketing but need to make architecture decisions in the next 12-18 months.