Increased property insights will empower proactive risk assessment and help the company advise policyholders on mitigation tactics and write better overall risks.
SAN FRANCISCO, Jan. 18, 2022 (GLOBE NEWSWIRE) — Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, is pleased to announce that Co-operative Insurance Companies (Co-operative) has selected Betterview’s Remote Property Intelligence Platform to help reduce expenses associated with loss control.
Co-operative Insurance, a mutual insurer underwriting homes, farms and commercial properties in Vermont and New Hampshire since 1915, has long relied on an internal loss control department for underwriting risk assessments which ultimately help the company identify the best risks to write.
“As such a small company, having a dedicated loss control team has always been sort of a luxury,” said Lee Dowgiewicz, president of Co-operative. “This team inspects thousands of properties to gauge risk level prior to writing a policy or before renewal. Betterview has given us a tool that will streamline this process, allowing us to be more choosey about where we send inspectors, cutting down our expenses.”
Betterview’s Remote Property Intelligence Platform, including the integrated PropertyInsight tool and Roof Spotlight Index, leverages aerial imagery, proprietary machine learning (ML) algorithms, and third-party partner data to give property and casualty (P&C) insurers, like Co-operative, a better understanding of risk at every stage of the policy lifecycle. All of these insights are housed in a single, intuitive environment that transforms data into direct underwriting actions for risk selection as related to new business.
“Our platform allows insurers to understand risk and take action before even setting foot on a property,” said David Tobias, co-founder and chief of operations for Betterview. “Co-operative can be more selective going forward about which policies are approved, and which properties they send a physical inspection team to assess. By integrating our platform into their underwriting and loss control workflows, insurers, like Co-operative, can improve combined ratios, predict future losses, and build a more positive, transparent customer experience.”
About Betterview
Betterview was founded with the mission of helping P&C carriers better identify and manage property risk. It was created with a deep, first-hand understanding of the challenges that carriers have faced in obtaining high-quality, actionable insight. Betterview’s remote property intelligence platform enables carriers to provide a better experience to their insureds and agents while improving their bottom line. For more information, please visit www.betterview.com.
About Co-operative Insurance Companies (Co-operative)
Co-operative Insurance Companies (Co-operative) has been meeting property and casualty insurance needs since 1915, offering farm, home, auto, business, and other insurance to people in Vermont and New Hampshire. It is owned by its members and is committed to protecting them with fast and fair claims service, farm safety practices, and local operations. The company has headquarters in Middlebury, Vermont, with regional claims offices and more than 100 agency locations across Vermont and New Hampshire. For more information, please visit www.co-opinsurance.com.
