American Farmers and Ranchers (AFR) Insurance, one of the largest and most respected rural insurance providers in the state of Oklahoma since 1905, today announced they have selected insurtech company Betterview to improve underwriting efficiency and reduce premium leakage.
As a provider of coverage for many rural and remote properties, AFR often struggles to obtain a clear, consistent view of real property condition. The company was looking for a way to improve their oversight, and to analyze and monitor risk across their entire book of properties, when they first became aware of Betterview.
“As the landscape of risk continues to change, insurance companies like ourselves need to evolve in order to remain competitive,” says Andy Jones, director of underwriting at AFR Insurance. “The geospatial insights on the Betterview platform give us a comprehensive understanding of real property risk, which can then be transformed into direct, strategic policy action. Another useful feature of the platform is the ability to monitor changes in property condition over time using historical imagery. This allows us to appropriately price risk at time of renewal without depending on costly physical inspections.”
Betterview is also excited about working with AFR Insurance. “Insurance companies often face difficulty in getting actionable property intelligence for their rural policies,” says David Tobias, co-founder and chief operations officer at Betterview. “Our platform fills in those gaps, empowering companies like American Farmers and Ranchers to stay up-to-date on real property condition, reduce premium leakage, and better protect homeowners, businesses, and communities.”