Betterview

Betterview provides property insight and workflow tools for insurance companies to improve the customer experience by accelerating decisions and improving risk across the life cycle. Initially starting off as a drone-based property inspection service, the company launched a new risk management platform in 2018. The platform utilises machine learning, geospatial data and computer vision to offer insight and analysis on properties. Betterview's customers and partners include AIG, Nationwide and MunichRe.

Betterview took part in the 500 Startups accelerator in July 2015, less than a year after the company was founded.

In 2018, the startup introduced Property Profile, an AI-driven roof report delivered via satellite and aerial imagery, along with a series of other data points such as historical weather. The following year, they would assist Michigan-based property and casualty holding company, Conifer, by delivering property data and analytics to improve their commercial lines underwriting efforts.

In May 2019 Betterview secured $4.5m in Series A funding, in a round led by ManchesterStory Group and participation from Nationwide Ventures and EMC Insurance. The funding is intended for team growth.

Nationwide announced a three year commercial agreement with Betterview in November 2019. The agreement enables the insurance carrier to utilise Betterview's predictive roof analytics and risk management platform for commercial property renewals. Nationwide has previously invested in Betterview's early-stage funding rounds.

Betterview raised $7.5m in investment in June 2020, in a round led by ManchesterStory, with participation from Guidewire Software and existing investors.

In September 2020, American Capital Assurance Corp (AmCap Insurance) partnered with Betterview to enhance its commercial property claims experience and efficiency.

In October 2021 Betterview partnered with West Bend Insurance. The startup provides actionable property intelligence to P&C insurers and is part of the 125 year-old insurers underwriting and claims modernisation programme.

In March 2022 US P&C Insurer Secura selected property intelligence startup Betterview to strengthen its internal risk mitigation capabilities for new business and renewals.

In April 2022 Betterview partnered with NatCat data provider RedZone to increase its accuracy in predicting and assessing damage. Betterview will also add RedZone's datasets to Betterviews' third-party data marketplace, PartnerHub, which offers customers access to a wide range of intelligence and risk management solutions from partners such as Canopy Weather and Hazard Hub.

In June 2022 Betterview announced the extension of its existing partnership with e2Value, a provider of web-based property valuation solutions. With the newly extended partnership, originally formed in 2021, new editable fields have been added to the integration in order to help underwriters make more rapid, strategic policy decisions.

In August 2022 Betterview announced it was partnering with the National Fire Protection Association (NFPA), a non-profit aiming to eliminate death from fire, electrical and other hazards. NFPA’s Firewise USA recognition program will be integrated with Betterview's Wildfire Insights product to offer a more complete view of risk and vulnerabilities at both a property and community level.

During November 2022 appointed Betterview to better analyse its business. It also started a new partnership with Iceye, which is the leading provider of accessible geospatial data. As part of the partnership, data from Iceye is available to all Betterview users within PartnerHub, which is a third-party marketplace within the company's Property Intelligence & Risk Management Platform.

Then in early January 2023 the company announced a new partnership with Plnar, AI-powered virtual inspection software for the property insurance market. For Betterview the deal will help efficiency throughout the policy lifecycle, particularly during claims.

In January 2023 Betterview completed a new round of funding of an undisclosed amount. The company intends to use the funds to continue its growth, support its path to profitability in 2023, and provide customers with new and enhanced products and features.

In March 2023 the company announced a new partnership with Carpe Data, a next-generation online data provider for insurers, bringing about faster policy decisions. Carpe Data will provide accurate location-based occupancy data about businesses across the country. Betterview will use Carpe Data’s Minerva, which provides predictive insights and risk assessment based on a business’s online presence. Carpe Data can offer insights into 40 million businesses.

In April 2023 it launched an AI-powered roof age solution to support P&C insuers. The new solution uses AI and computer vision to analyse high-resolution aerial imagery, enabling precise determination of roof age data. This new product was created to supplement and validate historically unreliable roof age data. Betterview’s solution will enable insurers to quote quicker, price policies more accurately and prioritise inspections for properties with older roofs to better manage and mitigate risk.

In July, personal lines carrier, Allied Trust Insurance Company (ATIC) partnered with Betterview to enhance its understanding of property risk via Betterview’s Property Intelligence and Risk Management solution.

Also in July, it partnered with P&C provider Centauri Insurance to create proactive storm management offerings. The new partnership will increase efficiency and oversight in new business underwriting and renewal workflows.

The company entered into another partnership in July, this time with EagleView Technologies, an aerial imagery and data analytics provider. EagleView’s technology is being integrated with Betterview’s property intelligence platform.