Fairmont Farmers Mutual to Leverage Betterview to Optimize Inspections

Fairmont sought out an InsurTech partner to accurately price risk throughout the year without relying exclusively on boots-on-the-ground inspections.

(Image source: Fairmont, Minn., city homepage.)

Fairmont Farmers Mutual Insurance Company, a Fairmont, Minn.-based provider of insurance and related services to its members since 1889, has selected Betterview (San Francisco), an InsurTech provider of actionable property intelligence to property/casualty insurers. Fairmont will leverage the property intelligence tools on the Betterview platform to improve loss control and optimize inspection efficiency, particularly during winter months, according to a Betterview statement.

Ben Jacobs, COO, Fairmont Farmers Mutual Insurance Company.

Fairmont focuses primarily on insuring farming communities in Minnesota and recently expanded into Iowa. One of the company’s most significant challenges was obtaining a clear and comprehensive view of property condition to assess risk, particularly during the harsh winter weather in the Midwestern states, according to the Betterview statement. In keeping with the carrier’s forward-thinking approach, Fairmont sought out an InsurTech partner to accurately price risk throughout the year without relying exclusively on boots-on-the-ground inspections. Betterview says it solved Fairmont’s problem with a combination of historical imagery and predictive risk insights.

Huge Efficiency Boost

“When there’s snow on the roof, inspectors can’t get an accurate view of preexisting damage, and our underwriters are left in the dark about relevant risk drivers like missing shingles or staining,” comments Ben Jacobs, COO, Fairmont Farmers. “Betterview shows us historical imagery from a date when there wasn’t snow on the roof.

David Tobias, Co-founder and COO, Betterview.

“[Betterview’s] computer vision tools also tell us whether we’re dealing with a high or low-quality roof. We used to send inspectors to every property, but with Betterview we can be more strategic when we deploy boots-on-the-ground inspections and when we straight-through-process. It’s a huge boost to our efficiency.”

Dave Tobias, co-founder and chief operations officer at Betterview, asserts that the InsurTech is uniquely positioned to eliminate blind spots from the underwriting and loss control process. “Our platform is a great option for mutuals like Fairmont who want to keep pace with digital transformation,” Tobias comments. “Equipped with the AI tools on our platform, and with up to 20 years of historical imagery from our strategic ally EagleView [Bellevue, Wash.], Fairmont can continue to provide excellent service regardless of inclement weather and other evolving risk factors.”

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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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