Betterview is adding Hurricane Risk Insights to its platform.
The firm said it was adding new peril-specific insights to its Betterview Platform to help insurers and policyholders better gauge risk and protect against potential damage.
David Tobias, co-founder and COO at Betterview, said: “Faced with the potential of devastating losses, many insurers are simply canceling policies en masse, or even ending business in certain states. At Betterview, we don’t believe either of those strategies is sustainable. We need to get ahead of the risk and understand it thoroughly so that we can predict and prevent the losses. Our goal for Hurricane Risk Insights is to turn agents and underwriters into heroes for the insured, making homes and businesses more hurricane resilient and climate ready.”
Betterview’s Hurricane Risk Insights helps P&C insurers understand hurricane risk through a single-screen user interface (UI) which shows the granular property conditions. Similar to Betterview’s Wildfire Risk Insights, the new Hurricane Risk Insights tool looks at both regional hazard and property-specific vulnerability to provide a complete picture of hurricane risk.
Jason Janofsky, CTO at Betterview, said: “Traditional solutions for hurricane risk tend to only focus on the likelihood of a storm occurring in a general area, aka hazard. Our platform does feature highly accurate hazard data from our third-party partners and public data, such as HazardHub, True Flood Risk, and the Federal Emergency Management Agency (FEMA). But we also use our computer vision technology to evaluate the vulnerability of each property, considering factors such as roof conditions, defensible space, and more. This returns a Hurricane Vulnerability Score which insurers can use along with the hazard data to make confident underwriting decisions quickly.”
