Betterview, an InsurTech provider of actionable property intelligence to property/casualty insurance companies, has announce a new partnership with Canopy Weather, a provider of weather and hazard datasets. Under the terms of the new partnership, Betterview says it 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.
“PartnerHub is a crucial part of what makes Betterview so effective for insurers,” comments Armin Monajemi, director of strategic partnerships, Betterview. “The native insights on our platform, including our computer vision data models, geospatial imagery, and features like the 100-point Roof Spotlight Index, already help insurers to predict and prevent losses and drive down their expenses. Add to that the excellent datasets from partners, like Canopy Weather, and insurers will be equipped with all they need to take strategic, immediate action on properties that need the most attention, as well as to identify solid risks that can be fast tracked.”
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 cutting-edge technology, including proprietary machine learning (ML) algorithms and a wide selection of public, private, and commercial property data. All of these insights 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, according to Tobias.
Revealing the Exact Extent of Hail Damage
“Betterview can analyze a roof with computer vision, but it has been very difficult historically to get a good view of hail damage,” comments Tobias. “Canopy Weather’s granular data fills in that gap, showing our customers the exact extent of hail damage. This also allows them to analyze 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.”
“Over the last ten years, you’ve seen an explosion in the amount of data available to insurers,” comments Matt Van Every, CEO, Canopy Weather. “Betterview takes that data—including our hail damage insights at Canopy—combines it with other relevant context, and allows insurers to really focus on what matters. So, while our product can tell insurers the extent of hail damage, Betterview can add to that a view of overall roof condition, making the insights all the more valuable to insurers looking to actually evaluate risk.”
Source: Insurance Innovation Reporter
