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 firstname.lastname@example.org
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