In the News: Winning Back Reinsurers' Confidence
With property reinsurance rates at a 17-year peak, the insurance industry is at a pivotal juncture. Jeff Heine's featured Insurance Thought Leadership
1 min read
Betterview
:
Aug 9, 2023 7:30:00 AM
Celina Insurance Group, a community-focused provider of P&C insurance for over 100 years, recently announced their selection of insurtech company Betterview. Celina will utilize Betterview’s Property Intelligence and Risk Management solution to drive more accurate assessments of property conditions during policy renewal.
Celina sought out an insurtech partner to obtain reliable and consistent data on roof condition, an especially relevant factor for Midwestern insurers dealing with inclement weather. Previously, Celina’s underwriters relied on time-consuming physical inspections to assess roof condition and often had to make adjustments later in the policy lifecycle. Betterview provided Celina with more accurate property data upfront and an extensive selection of roof-related property insights for improved risk selection and efficient underwriting.
“Betterview gave us even more than we asked for,” says Trish Harlamert, vice president of underwriting at Celina. “There are so many great datasets and tools on their platform, including a full, transparent assessment of overall roof condition and the ability to flag changes in property condition over time. This is extremely useful for renewals because we can see if a policyholder has added a swimming pool, trampoline, or even an additional structure since the last time we had eyes on the property.”
Betterview is confident their platform will drive more efficient renewal workflows for Celina. “Our platform empowers insurers like Celina with an instant, AI-powered view of current and historical roof condition. Our mature machine models can detect over two dozen relevant risk drivers, including staining, ponding, and missing shingles,” says Dave Tobias, chief operating officer and co-founder at Betterview. “Equipped with the best property data, they can make more informed decisions and collect adequate premiums without relying on costly, time-consuming physical inspections.”
With property reinsurance rates at a 17-year peak, the insurance industry is at a pivotal juncture. Jeff Heine's featured Insurance Thought Leadership
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