Stillwater Insurance Group Selects Betterview
Jan 2022
Stillwater Insurance Company selects Betterview remote property intelligence platform for their predictive analytics and data models.
Jan 2022
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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.
Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, is pleased to announce that Stillwater Insurance Group (Stillwater) will implement Betterview’s PropertyPulse to flag modifications to insured properties which may require additional underwriting assessment or risk mitigation steps.
With offices in some of the country’s most insurance-challenged states, including Florida, New York, and California, Stillwater’s seasoned mix of insurance professionals have been providing a suite of essential personal insurance products and a growing line of commercial property products since the early 2000s. And, the company is widely recognized for a strong commitment to transparency, responsiveness, and integrity.
“Betterview is significantly helping increase efficiency for our underwriters and eliminating unnecessary work – for everyone,” said Eric W. Neely, vice president of commercial lines at Stillwater. “Their platform gives us a decent picture of actual roof condition and other attributes that help us identify problematic risks. Rather than just relying on physical inspections, our quoting process now includes a reliable, fully remote view of property risk. This benefits us, and it is also helpful for our agents and a better experience for policyholders. Everyone wins with a more transparent understanding of property condition and risk.”
As part of the complete property coverage provided by Betterview’s Remote Property Intelligence Platform, PropertyPulse uses historical imagery to show how property conditions have changed over time. This feature is particularly useful during the claims process and can be instrumental in fraud detection, often limiting the need for more rigorous inspection on covered properties. PropertyPulse will ultimately enable significant improvements in Stillwater’s claims and underwriting processes.
“Eric Neely and his team have a great understanding of our mission here at Betterview,” said David Tobias, co-founder and chief of operations for Betterview. “They are focused not just on their bottom line, but on creating a safer, smarter, and more harmonious policy experience for all parties involved. With the tools on our platform, we aim to help insurers transition from ‘repair and replace’ to a ‘predict and prevent’ mindset.”
Betterview’s Remote Property Intelligence Platform uses a high-quality aerial imagery, machine learning (ML), and third-party property data to give a holistic and actionable view of property risk in order to help Stillwater reduce loss adjustment expenses (LAE), identify potential fraud faster, and build a more positive customer experience.