(Image source: Wiktor Karkocha/Unsplash.)
HAI Group , a Cheshire, Conn.-based property/casualty insurer dedicated to affordable housing, has selected Betterview’s (San Francisco) Remote Property Intelligence Platform to strengthen and accelerate property underwriting capabilities, according to a Betterview statement.
“Selecting solid risks when underwriting property has become more important than ever in the modern insurance landscape,” comments Courtney Rice, chief communications officer, HAI Group. “Betterview helps us cut through the noise, delivering us only the most relevant property data, and giving us a clear and actionable understanding of risk. We can see the quality of a roof and even whether the property itself is vacant. This streamlines our process and helps us determine when we need to send our team to inspect a property. The Betterview platform increases our efficiency and reduces our expenses.”
HAI Group is a member-owned organization that describes itself as being committed to providing reliable insurance solutions, products, and services to the affordable housing community that includes subsidiary companies, such as Housing Authority Property Insurance (HAPI), Housing Enterprise Insurance Company (HEIC), Housing Specialty Insurance Company (HSIC), and Innovative Housing Insurance Company (IHIC). Describing its challenge as facing stricter competition and an increased need for affordable housing created in large part by the economic challenges of the ongoing pandemic, HAI Group says it is investing in identifying and integrating innovative technologies which can significantly improve the company’s underwriting processes.
HAI Group reports that it sough tools to give the company’s internal risk control team a better understanding of property conditions prior to sending out a physical inspection team. The company says it selected Betterview’s Remote Property Intelligence Platform in recognition of the solution’s ability to transform raw data into actionable insights. Betterview’s Remote Property Intelligence Platform, including the integrated PropertyInsight tool and Roof Spotlight Index, creates a single, intuitive environment to streamline all underwriting processes, making it extremely attractive to HAI Group, especially for risk selection as related to new business.
Rapidly Determine which Risks Can Be Fast-Tracked to Renewal
Betterview describes the PropertyInsight tool as delivering a rich set of data and insights on property conditions which, when combined with third-party data, can trigger rules and promote action to improve risk. The vendor says its Roof Spotlight Index, a 100-point assessment of a roof’s condition, and its integrated rules and flagging engine makes it easy for underwriters to take direct actions in order to prevent future losses and improve loss ratios. These capabilities empower HAI Group’s underwriters to not only select the best risks, but to rapidly determine which properties can be fast-tracked to renewal, and which require further attention or even an on-the-ground inspection, according to the Betterview statement.
“We see HAI Group as an especially exciting client,” comments David Tobias, co-founder and chief of operations, Betterview. “This is a chance to provide risk control tools that will directly benefit the affordable housing community. I can’t think of a better use of our technology than providing peace of mind and security to those organizations.”