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Betterview, the San Francisco-based InsurTech creator of a property intelligence platform designed to help insurance carriers better identify and manage property risk, has introduced a prefill data service that helps insurers streamline the property policy quoting process.
Betterview’s PropertyNow enables carriers to improve the speed and accuracy of the quoting process by providing pre-processed up-to-date data of key property attributes—such as roof type, size and proximity of vegetation—for all locations across the entire United States.
“Quoting speed is a differentiator for carriers, but they need to balance speed with profitable underwriting decision-making,” comments David Lyman, CEO, Betterview. “PropertyNow provides instant access to data that will enable the best pricing decision in the interest of all the parties—insurer, agent and property owner.”
Betterview characterizes PropertyNow as an essential aspect of an improved customer experience. The vendor notes that, while digital capabilities are essential to supporting a better insured and agent experience, adequate property data is necessary for accurate pricing at the time of quoting. Having the right data when quoting also improves the customer experience by reducing the number of questions needed to properly underwrite the risk, a Betterview statement stresses.
Instantaneous Data Access via API
The PropertyNow solution gives carriers access to the most current data on key attributes, enabling them to quote rapidly without sacrificing underwriting precision and taking on unnecessary risk, according to Betterview. Upon receiving a request for a quote, carriers using PropertyNow call up crucial data within a fraction of a second via API.
The data is introduced into the carrier’s quote flow seamlessly, ensuring a speedy quote without sacrificing pricing accuracy, a Betterview statement explains. Agents and customers enjoy the convenience of a quick quote. Carriers avoid surprises resulting from incomplete data, and customers are not faced with unanticipated hikes in premium at time of renewal.
“PropertyNow allows Betterview’s insurance carrier customers to get the data they need, when they need it, how they need it,” the statement says. PropertyNow is available as a standalone offering, or as part of the Betterview platform suite for insurance.
The Betterview suite also includes a platform for underwriters to visualize the risk characteristics of properties so they can work with their insureds to mitigate risks and property monitoring to ensure an up-to-date risk profile at time of renewal.