Centauri Insurance Adopts Betterview for Proactive Storm Risk Management

The southern coastal states insurer sought a way to rapidly view real property conditions and get a more accurate assessment of true risk.

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Centauri Specialty Insurance Company and Centauri National Insurance Company (Centauri; Sarasota, Fla.), providers of property/casualty insurance products across eight states, have selected Betterview (San Francisco). Betterview’s platform will help the companies increase efficiency and oversight in new business underwriting and renewal workflows, while empowering a proactive approach to storm risk management, according to a vendor statement.

Bob Courtemanche, CEO, Centauri.

Centauri has policyholders located primarily in southern coastal areas, from South Carolina to Texas, including Florida and Louisiana, so the company has a special interest in identifying and managing convective storm and hurricane risk. This was a major factor that led the company to choose Betterview, according to Bob Courtemanche, CEO, Centauri.

“We knew that boots-on-the-ground inspections alone were insufficient to predict how storms impact our properties,” Courtemanche comments. “We needed to find a way to rapidly view real property conditions and get a more accurate assessment of our true risk. Other property intelligence providers couldn’t give us the comprehensive detail we needed, but the AI-powered detections, workflow management tools and continuous monitoring capabilities on the Betterview platform enabled us to better manage and understand our book of business in real time.”

Exact Property Attributes

Jason Janofsky, CTO, Betterview.

“With the recent advances in machine learning models, you can get a highly granular view of property risk,” comments Jason Janofsky, CTO, Betterview. “You can see not just a blanket score, but the exact property condition attributes—missing shingles, or the age of a roof, for example—that make the property more vulnerable. This is great not just for new business, but also when renewing policies that may not have been inspected in several years. With a more accurate view of risk, you can rapidly make policy decisions, and even work together with the insured to proactively mitigate risk.”

As hurricanes and other storm events worsen due to the impact of climate change, many insurers have partnered with InsurTechs like Betterview to improve their risk selection. Centauri is confident that in the long term, embracing innovative technologies will allow the company to remain profitable in hazard-prone regions while still providing exceptional service to their insureds, according to the Betterview statement.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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