Centauri Insurance adopts Betterview for proactive storm risk management
Jul 2023
Centauri Insurance Selects the Betterview Property Intelligence Platforms to Proactively Manage Storm Risk
Jul 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.
Centauri Specialty Insurance Company and Centauri National Insurance Company (“Centauri”), providers of exceptional Property and Casualty insurance products across eight states, today announced their partnership with insurtech company, Betterview. The collaboration will increase efficiency and oversight in new business underwriting and renewal workflows, while empowering a proactive approach to storm risk management.
Centauri has policyholders located primarily in southern coastal areas, from South Carolina to Texas, including Florida and Louisiana, meaning they have a special interest in identifying and managing convective storm and hurricane risk. This was a major factor that led the company to choose Betterview, according to Bob Courtemanche, chief executive officer at Centauri. “We knew that boots-on-the-ground inspections alone were insufficient to predict how storms impact our properties,” says Bob. “We needed to find a way to rapidly view real property conditions and get a more accurate assessment of our true risk. Other property intelligence providers couldn’t give us the comprehensive detail we needed – but the AI-powered detections, workflow management tools and continuous monitoring capabilities on the Betterview platform enabled us to better manage and understand our book of business in real time.”
Jason Janofsky, chief technology officer at Betterview, believes the company is uniquely situated to respond to the demands of increasingly unpredictable storm patterns. “With the recent advances in machine learning models, you can get a highly granular view of property risk. You can see not just a blanket score, but the exact property condition attributes – missing shingles, or the age of a roof, for example – that make the property more vulnerable. This is great not just for new business, but also when renewing policies that may not have been inspected in several years. With a more accurate view of risk, you can rapidly make policy decisions, and even work together with the insured to proactively mitigate risk.”
As hurricanes and other storm events worsen due to the impact of climate change, many insurance companies have partnered with insurtech companies like Betterview to improve their risk selection. Centauri is confident that in the long term, embracing innovative technologies will allow them to remain profitable in hazard-prone regions while still providing exceptional service to their insureds.