Majesco TL
Follow Us
ITA MEMBERSHIP

INSURANCE TECHNOLOGY NEWS

INSURANCE TECHNOLOGY NEWS

Conifer Insurance Company Partners with InsurTech AI Startup Betterview to Deliver Data & Analytics on Commercial Buildings and Properties

Bill Sinn | January 31, 2019

Betterview, which is quickly becoming the platform essential to every transaction around buildings and properties, today announced a partnership with Conifer Insurance Company, a provider of customized commercial insurance products for regional industry groups underserved by large national and international insurance companies. As part of this partnership, Betterview will be delivering property data and analytics to Conifer’s commercial lines underwriting team to assist in the underwriting evaluation process.  

Launched in August of 2018, Property Profile utilizes Artificial Intelligence (“AI”) to analyze manned aircraft and satellite imagery of individual risks, factoring in historical weather and other data sources to determine roof condition and various other characteristics necessary to evaluate the risk of future insurance losses.  

“We are always evaluating opportunities in the InsurTech space, especially if they can help us to mitigate risk or enhance our customer and agent relationships,” said Nick Petcoff, President of Conifer Insurance Company.  “One of the things that stuck out to us initially about Betterview was the commercial lines loss control experience of its Co-Founder Dave Tobias.  This experience translated well during our proof of concept (POC) as Property Profile validated assumptions we already suspected about potential risk exposure in our book of business.  We were very impressed with the final results of our POC and felt Property Profile’s unbiased analysis would be an effective communication tool when talking to insureds and agents about individual building and property risks,” said Mr. Petcoff.  

Customers like Conifer Insurance Company may access Betterview’s property data & analytics via API, Betterview’s Guidewire PolicyCenter™ integration or through its web platform by typing in an address or uploading a CSV file.  In addition, if users wish to dig deeper, they can click on a link to order a drone inspection.  

“One of the biggest challenges for commercial lines insurers is getting accurate and actionable roof data on commercial buildings,” said David Lyman, CEO & Co-Founder, Betterview.  “While personal lines insurers are mainly dealing two or three different roof types, commercial lines insurers are typically dealing with six or seven roof types, such as black EPDM, white TPO, PVC, modified bitumen, SPF, etc.  We have invested thousands of hours training our machine learning platform over the last few years to accurately detect issues on various types of roof materials.  We are extremely proud that all of our hard work has paid off by having Conifer Insurance select Property Profile as a tool to help them proactively mitigate roof claims and communicate roof issues to their agents and customers,” said Lyman. 

For more information about this release, please contact Paul Ptashnick at paul@betterview.net


Featured articles

Majesco RH

MT MR

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2019

The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News