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“Machine Learning driven property intelligence tools, such as those provided by Betterview, can provide underwriters with a more intuitive and actionable risk profile than ever before,” Tobias says. “With that technology, they can determine exactly what factors contribute to higher risk, share that insight with homeowners and their agents, and work together to mitigate those risks. This could be as simple as repairing a roof or trimming back some trees on the property, but the result is a lower loss ratio for carriers, reduced disruption and uncovered losses for insureds, and a partnership between the two built on transparency, shared goals, and mutual trust.”

“Betterview is one startup applying computer vision to property insurance. Using geospatial data, these companies can automatically evaluate what material a building is made out of, what condition the roof is in, what the roof’s square footage is, how much yard debris the property has, how close a structure is to vegetation, and hundreds of other factors that collectively determine the property’s risk profile and the optimal insurance policy pricing.”

“I am very pleased to formalize our longstanding relationship with e2Value,” said David Tobias, Co-Founder and Chief Operations Officer at Betterview. “Their constantly-updated replacement cost data combined with Betterview’s platform is a pairing customers have been asking for. We are enthusiastic about bringing these two powerful resources together to help insurers obtain more accurate and timely assessments of property exposures and conditions.”

Betterview, the InsurTech creator of a property intelligence platform designed to help insurance carriers better identify and manage property risk, has introduced a prefill data service that helps insurers streamline the property policy quoting process.

Betterview’s PropertyNow enables carriers to improve the speed and accuracy of the quoting process by providing pre-processed up-to-date data of key property attributes—such as roof type, size and proximity of vegetation—for all locations across the entire United States.

Betterview introduced a prefill data service that helps insurers streamline the property policy quoting process. Betterview’s PropertyNow enables carriers to improve the speed and accuracy of the quoting process by providing pre-processed, up-to-date data of key property attributes, such as roof type, size and proximity of vegetation, for all locations across the entire United States.

Betterview has introduced a prefill data service that helps insurers streamline the property policy quoting process.

Betterview’s PropertyNow enables carriers to improve the speed and accuracy of the quoting process by providing pre-processed up-to-date data of key property attributes—such as roof type, size and proximity of vegetation—for all locations across the entire United States.

Orchid Insurance has signed on with Betterview to gain access to the insurtech’s remote property intelligence platform. Bryan Schofield, senior vice president and head of commercial lines at Orchid Insurance, says the tech will provide quick quoting and binding issuance for coverage including Business Owner Policies, Monoline Property Policies, Wind-Only, Lessor’s Risk, Mobile Home/RV Communities and more. Along with the improved technology, the collaboration will also update reinsurance, underwriting, and aggregation models more frequently. Schofield shares, “When we started down the path of digitizing, we realized that a platform that offered high-quality aerial imagery and analytics was critical to the accuracy and speed of our underwriting processes.”

Orchid Underwriters Agency, LLC partnered with Betterview to gain access to the InsurTech’s remote property intelligence platform. The partnership aims to enhance Orchid’s CAT-exposed property underwriting operations. An early adopter of data-driven underwriting, Orchid’s Commercial Lines division has a history of teaming with InsureTech companies, such as Betterview, to deliver best-in-class underwriting results to its partner carriers.

Orchid Insurance Partners (Vero Beach, Fla.) has adopted Betterview’s remote property intelligence platform to enhance its catastrophe-exposed property underwriting, according to a joint announcement.