Why Do Partnerships Matter at Betterview?
Jun 2022
Armin MonajemiA perspective on partnerships at Betterview from VP of Strategic Partnerships Armin Monajemi, including imagery providers, core systems, and data partners
Jun 2022
Armin Monajemi)
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.
When I was first hired at Betterview, it was in part due to my experience as a flight instructor. Co-founders Dave Tobias and David Lyman had an idea to get imagery of rooftops, first using drones before switching to focus on aerial imagery. They enlisted my help in training pilots so that they could provide insurers with a bird’s-eye view of real property risk.
Now the company has pivoted away from drones and toward geospatial predictive analytics. I have also pivoted into a new role as VP of Strategic Partnerships. But I continue to draw on my experience as a pilot, which taught me how the world looks from above. In a plane or a drone, you learn to see how everything connects into a bigger picture. In a similar way, my new role allows me to see how Betterview and our partners join together to create a property intelligence and risk management solution stronger than the sum of its parts.
Partnerships are crucial to the success of Betterview. By combining our native technology with third-party data from industry-trusted providers, the Betterview platform empowers insurers to predict and prevent losses, optimize underwriter and inspections efficiency, and build a trusting and transparent relationship with their insured. Let’s look at how some of these partners contribute to Betterview’s success.
Imagery Providers
The foundation of the Betterview platform is high-quality geospatial imagery, which our Computer Vision models analyze to generate risk insights for insurers. We partner with all major imagery providers in the US including Nearmap, Geospatial Insurance Consortium (GIC), Hexagon, Google and more. With imagery of such an impressive pedigree, we are able to cover almost every property in the lower 48.
Core Systems Partners
A core focus at Betterview is to increase underwriter efficiency, helping insurers to improve expense ratios. One way to accomplish that is to reduce the amount of screens that underwriters have to use when analyzing and managing property risk. By integrating with core systems like Socotra, Guidewire, Duck Creek, and OneShield, we have made the Betterview platform accessible directly within existing workflows. All of the powerful predictive analytics of Betterview are just a click away – all without having to open another window.
Data Partners
Betterview houses third-party data from public, private, and commercial sources in our PartnerHub. This includes data from industry-leading companies like HazardHub, RedZone, Equifax, and more; it also includes publicly available data such as FEMA Risk Index, National Registry of Historic Places, Regional Health Code Violations, and more.
PartnerHub demonstrates the power generated when Betterview tools and partner data are combined. For example, imagine an insurer wants to send inspections teams only to properties at most risk of wildfire damage. They can use Betterview’s Wildfire Vulnerability Score and place a flag on every property with insufficient defensible space. They can then cross-reference this with data from RedZone, so that they only see properties with a sufficient level of risk. Once they have a flag on all of these properties, they can automatically trigger the desired action – sending an inspection team, for instance, or proactively informing the insured of risk mitigation steps they should take. Working together, Betterview and our partners are able to give insurers a more complete and actionable view of risk.
I don’t spend as much time flying as I used to, but my view of property intelligence and risk management is broader than ever. From my position, I can see how different providers in the insurtech industry fulfill different needs. One company can fill in the gaps of another, and vice versa, so working together is always the most effective approach. We are proud of our partners here at Betterview, and we are happy that we can work together to provide insurers with the solutions they need.
Contact us today to learn more about partnering with Betterview, and to explore for yourself how our platform can help turn underwriters into insurance heroes!