(Image source: Near Space Labs webpage.)
Betterview (San Francisco), an InsurTech provider of actionable property intelligence to property/casualty insurers, has announced a partnership with Near Space Labs (Brooklyn, N.Y.), a provider of high-quality earth imagery. Integrating imagery from Near Space Labs into the Betterview Property Intelligence Platform enables insurers to enhance the recency, frequency, and geographical coverage of property intelligence in underserved areas, enriching an overall view of property risk, according to a Betterview statement.
Armin Monajemi, Director of Strategic Partnerships, Betterview.
The vendor statement notes that insurers need multiple sources of property imagery for different use cases, including aerial, satellite, and street-level photos. Multiple sources can also capture images that a single source may miss, particularly in rural areas. Recognizing this, Betterview says it continues to expand imagery capabilities and incorporate a range of collection methodologies. They found an ideal partner in Near Space Labs.
“We were very impressed with what Near Space Labs had to offer,” comments Armin Monajemi, VP, strategic partnerships, Betterview. “Their imagery, captured by a fleet of autonomous high-altitude robots, gives us an in-depth look at areas of the country that have historically been hard to access, ensuring our customers always have the imagery they need. The two companies really see eye-to-eye, partly because of our startup background, and also because we share a mission: to reveal a complete picture of property risk.”
Removing Blind Spots from Underwriting and Claims
Matthew Tucker, VP, Sales, Near Space Labs.
Near Space Labs notes that its imagery is refreshed every 90 days, which the company says gives insurers unbeatable recency. “If they need us to fly over a specific location to capture additional images, we’ve got them covered,” says Matthew Tucker, VP, Sales, Near Space Labs. “Together, Betterview and Near Space Labs are improving insurers’ overall view of risk by removing blind spots from underwriting and claims.”
Betterview reports that its customers can access imagery from Near Space Labs through Partner Connect in the Property Intelligence Platform. In addition to consistent 90-day refreshed historical images, insurers can also access Near Space Labs’ Post-CAT Recovery imagery for claims and catastrophic response use cases.