US-based insurtech platform Betterview has formed a new partnership with location intelligence and aerial imagery provider Nearmap.
In an event of a catastrophe, the alliance would enable customers of Betterview’s CAT Response System (CAT-RS) for claims to assess the impact on insured properties.
Nearmap ImpactResponse provides high-resolution imagery shortly after extreme weather events, such as windstorms, hurricanes, tornados, and wildfires.
Integration of the data provided by Nearmap into Betterview’s CAT-RS platform allows insurers to assess the extent of the damage to the property and then make informed decisions.
Betterview’s platform leverages computer vision to provide live predictions of real damage.
The partnership is expected to reduce the cases of fraudulent claims.
Betterview co-founder and CEO David Lyman said: “This partnership is a great example of two companies joining forces to create a powerful solution. Our predictive analytics, computer vision tools, and claim verification workflow with an intuitive UI, paired with Nearmap’s market-leading imagery, will help insurers quickly respond to their insureds in times of crisis while simultaneously reducing claims expenses.”
Nearmap general manager of insurance Elizabeth Del Ferro said: “Using our market-leading proprietary camera and processing technology, Nearmap ImpactResponse gives insurers rapid access to post-catastrophe imagery, allowing them to review claims and respond to customers in a fraction of the time it would take to assess damage in-person.”
Last month, Betterview launched Hurricane Risk Insights solution for P&C insurance firms.