MMG Insurance Strengthens Risk Management with Betterview Selection
Jun 2022
Betterview and MMG Insurance work together to improve risk selection with the betterview property intelligence and risk management platform
Jun 2022
)
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.
Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, is pleased to announce the Betterview Property Intelligence & Risk Management Platform has been selected by MMG Insurance Company (MMG Insurance or MMG) to strengthen the company’s current risk management processes.
MMG Insurance is known for being deeply committed to the communities and customers it has served for over 125 years by providing a range of personal and commercial policies, including auto, dwelling fire, homeowners, businessowner package (BOP), and umbrella coverages to customers in Maine, New Hampshire, Vermont, Virginia, and Pennsylvania. By employing Betterview’s technology, MMG is looking to not only improve customer experience, but to also increase efficiency in property risk assessment, boost the company’s loss ratio, and become more well-known as an innovative leader in the P&C insurance market.
“Working with Betterview will allow MMG to accurately increase the speed of making informed underwriting selection decisions at point-of-sale,” said Derek Hochradel, vice president of commercial lines at MMG. “In addition, they will help us identify premises risks needing specific attention to reduce loss potential for our policyholders. Betterview will also allow us to fulfill our commitment to our agency partners to maintain a high book quality and enable us to remain highly competitive in the marketplace.”
Betterview’s Property Intelligence & Risk Management Platform, which includes the Roof Spotlight Index and a recently announced Defensible Space feature, which 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, will provide property intelligence and workflow management solutions to MMG for improvements in new business, renewals, and claims. By streamlining underwriting workflows, Betterview helps P&C insurance company clients get a holistic view of real property risk and empowers underwriters to take more immediate, decisive actions on every covered property.
“Insurers today, like MMG, are acutely aware of the need to integrate innovative technologies into critical workflows,” said David Tobias, co-founder and COO of Betterview. “A full 36 percent of claim dollars are roof-related, but underwriters, loss control, and inspection teams often have a rough time getting an accurate view of roof conditions. Our platform removes the guesswork from that process, helping underwriters take strategic actions based on real risk drivers.”