Faster, Smarter Underwriting with Betterview Core Systems Integrations
Nov 2023
Betterview details their core systems integrations, which P&C insurers can utilize in the property intelligence platform to process their book of business
Nov 2023
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Since this post was originally published, Betterview was acquired by Nearmap. References to Betterview, the company, or its products have been maintained for historical accuracy. Betterview is now the primary solution for the insurance industry at Nearmap.
How can we make life easier for underwriters? That question informs everything we do at Betterview. Not just because faster underwriting means lower cost for insurers, but because our team is full of insurance veterans. We know firsthand the challenges underwriters face, and we’ve made it our mission to solve them – starting with data accuracy and workflow efficiency.
As part of that mission, we have partnered with multiple core systems companies for a comprehensive integration between their software platforms and our own. With our predictive property intelligence housed directly in your preferred policy interface, you can make more accurate risk decisions in a fraction of the time, optimizing your daily workflow.
What is a Core System Integration?
Many P&C insurers use a single, centralized software – or core system – to process their book of business. Underwriters and other insurance professionals handle renewals, pricing, claims response, and other action items within this software.
Centralizing your book of business in an easy-to-use interface is a great idea – but it doesn’t go far enough. While our property intelligence platform tells you everything you need to know about a property’s unique risk profile in a single screen, a core system integration amplifies the power of the platform by allowing you to work with your workflow. Such integration allows the property insights to flow through the core system so all policy-related information can be housed in one place.
How Does it Work?
There are several ways to consume the Betterview solution, including API connections and our own analytics user interface (UI). But to unlock the full power of Betterview’s solution, core system integration is a great alternative. Here’s how it works.
The idea is simple. We take the full power of our platform – including high-quality aerial imagery, computer vision detections, risk scores, and specialized peril analytics – and plug it directly into your core system in an iFrame view. View all relevant risk insights in a single glance, and act on them within the core system.
- Betterview’s Flagging system can be synced with the core system to trigger actions (block bind, require manager approvals, etc.)
- Betterview’s PDF reports automatically downloaded into the core system’s document center
- Betterview’s property insights are stored on policy and account pages within the core system
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What Core Systems Are Integrated with Betterview?
Betterview is the first and only Property Intelligence solution to be fully integrated with Guidewire PolicyCenter. InsuranceNow is also the latest Guidewire integration addition. Guidewire is an investor and long-term strategic ally with Betterview. Their HazardHub peril insights are also available through Partner Connect. In addition to Guidewire, Betterview also offers full integrations with Convr, Duck Creek, and Origami Risk.
What Are the Benefits?
The efficiency gained from the integration is significant, but it isn’t the only benefit. Core system integration also supercharges your ability to make confident, informed risk decisions. The more you know about a property, the better you can match price to risk and prevent avoidable losses.
- Our imagery and AI capabilities detect granular condition attributes like missing shingles or yard debris.
- These attributes can be viewed individually but are also weighted into comprehensive risk scores.
- All of these insights – plus geospatial datasets, imagery, and on-demand inspection tools from our trusted partners – can be viewed at any time directly in your core system.
Users report that Betterview insights directly influence policy actions 70% of the time. Core systems integration puts these tools at your fingertips, making the full power of property intelligence more accessible than ever. Add Betterview to your core system today for increased efficiency, more confident risk management, and lower expense ratios.