Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, has partnered with Canopy Weather, a provider of weather and hazard data sets.
Betterview champions a “predict and prevent” approach to insurance, the company said it is empowering insurers to automate pricing, underwriting, and renewal while focusing strategic action on critical properties.
Canopy Weather applies an application-first approach to deliver weather data products with specific, real-world business applications. The company said by asking the right questions and factoring in essential, overlooked variables, its technology triangulates on valuable new insights into the most pressing questions in your business.
Under the terms of the new partnership, Betterview will house several data products from Canopy within PartnerHub, Betterview’s third-party data marketplace which was added to the Betterview Property Intelligence & Risk Management Platform in 2021.
Betterview co-founder and chief operations officer David Tobias believes the data from Canopy will improve accuracy of hail damage estimates significantly. The platform, which includes the integrated PropertyInsight tool, the Roof Spotlight Index, and a recently announced Defensible Space feature, is powered by a combination of technology, including proprietary machine learning (ML) algorithms and a wide selection of public, private, and commercial property data.
All of these insights, Betterview said, are housed in an intuitive, single-screen platform that gives underwriters a holistic view of real property risk, empowering them to take immediate, decisive action on every covered property.
Tobias said, “Betterview can analyse a roof with computer vision, but it has been very difficult historically to get a good view of hail damage. Canopy Weather’s granular data fills in that gap, showing our customers the exact extent of hail damage.
“This also allows them to analyse the correlation between overall roof condition – provided by Betterview – and how that impacts hail damage. Seeing those two datasets side by side, thanks to this partnership, is a very powerful tool for underwriters and insurers.”
Copyright © 2022 FinTech Global
