SAN FRANCISCO, February 15, 2022 (GLOBE NEWSWIRE) — Betterview, an InsurTech provider of actionable real estate intelligence for P&C insurance companies, is pleased to announce Utica First Insurance Company (Utica First) selected the company’s market-leading real estate intelligence platform to improve underwriting efficiency, increase profitability and reduce claims adjustment expenses (LAE).
Founded in Utica, New York in 1903, today Utica First actively writes business for landlords, landlord packages, restaurants and taverns, craft contractors and business owners (BOP) in Connecticut, Florida, Maryland, Massachusetts, New JerseyNew York, Ohio, Pennsylvaniaand Virginia. Utica First’s conscious choice to maintain a narrow focus instead of trying to be “everything for everyone”, has resulted in faster growth and greater profitability over the years, and the company is actively integrating new technologies and new partners to maximize operational efficiency, speed-to-market, and fair rates for policyholders.
“We selected Betterview and the real estate intelligence platform to help our underwriters better understand the risk of each policy by analyzing insured properties from a high-resolution aerial imagery perspective that reveals potential exposures that traditional inspections of physical properties simply do not uncover,” said Shawn Kai, Director of Underwriting at Utica First. “Not only will we write better policies with the data we get through Betterview, but we will also maximize our efficiency and reduce expenses. The ultimate goal is to predict and prevent losses. Betterview represents a major step towards achieving this goal.
Betterview’s Property Intelligence platform streamlines underwriting workflows, prevents future losses and helps P&C insurance company clients create a more efficient and seamless customer experience. The platform, which includes the built-in PropertyInsight tool, the Roof Spotlight Index and a recently announced Defensible Space feature, is powered by a combination of cutting-edge technologies, including proprietary machine learning (ML) algorithms and a wide selection of public, private applications. , and commercial property data. All of this information is housed in an intuitive, single-screen platform that gives underwriters a holistic view of property risk, enabling them to take immediate and decisive action on each property covered.
Co-Founder and COO of Betterview David Tobias believes that the company’s Property Intelligence platform is an indispensable tool for companies like Utica First.
“The modern underwriter has access to an overwhelming amount of property data, and not all of that information is created equal,” Tobias said. “What the Betterview platform excels at is turning data into action.”
“Subscribers have full control over the data entered, including third-party data from industry-leading providers, such as RedZone, HazardHub and Canopy Weather,” said Neil Weiss, Chief Commercial Officer of Betterview, on the advantages of the platform. “They are then able to flag properties that meet specific requirements, such as those at high risk of wildfire damage, and create customizable workflows to enable policy action. 86% of users say they have taken direct action after viewing information on our platform. »
Betterview is the market-leading real estate intelligence platform enabling insurers to deliver a next-generation experience to underwriters, agents and policyholders while increasing underwriting efficiency and profitability. Combining ever-evolving AI, computer vision and customizable workflows with commercial, private and public data, Betterview meets your unique business needs with transparent and actionable property insights. For more information, please visit www.betterview.com.
On Utica First Insurance Company (Utic first)
Utica First Insurance Company was founded by locals Utica, New York businessmen in 1903 as Utica Fire Insurance Company of Oneida County, New York State to meet upstate property insurance needs New York residents. It has grown from this small base into a company that is actively writing business in the states of ConnecticutFlorida, Maryland, Massachusetts, New JerseyNew York, Ohio, Pennsylvaniaand Virginia. Initially, the Company underwrote property insurance exclusively on a taxable basis. Now, its product line has expanded to include Homeowners, Owner’s Package, Restaurant and Tavern Program, Craft Entrepreneur Policies, and Business Owners Policies, among others. For more information, please visit, www.uticafirst.com.
Media Contact:Jennifer OverhulseSt. Nick’s Media Services