(Image credit: Zak Gudakov/Unsplash.)
MMG Insurance Company (Presque Isle, Maine) has selected Betterview’s Property Intelligence & Risk Management Platform, to strengthen the company’s current risk management processes, according to a Betterview statement.
Founded in 1897, MMG Insurance provides a range of personal and commercial policies, including auto, dwelling fire, homeowners, businessowner package, and umbrella coverages to customers in Maine, New Hampshire, Vermont, Virginia, and Pennsylvania. By employing Betterview’s technology, MMG is looking to not only improve customer experience, but to also increase efficiency in property risk assessment, boost the company’s loss ratio, and become more well-known as an innovative leader in the property/casualty insurance market, according to the Betterview statement.
“Working with Betterview will allow MMG to accurately increase the speed of making informed underwriting selection decisions at point-of-sale,” comments Derek Hochradel, VP, commercial lines, MMG. “In addition, they will help us identify premises risks needing specific attention to reduce loss potential for our policyholders. Betterview will also allow us to fulfill our commitment to our agency partners to maintain a high book quality and enable us to remain highly competitive in the marketplace.”
Betterview’s Property Intelligence & Risk Management Platform, which includes the Roof Spotlight Index and a recently announced Defensible Space feature, as powered by a combination of current technology, including proprietary machine learning algorithms, and a wide selection of public, private, and commercial property data, will provide property intelligence and workflow management solutions to MMG for improvements in new business, renewals, and claims. By streamlining underwriting workflows, Betterview says it helps P&C insurance company clients get a holistic view of real property risk and empowers underwriters to take more immediate, decisive actions on every covered property.
“Insurers today, like MMG, are acutely aware of the need to integrate innovative technologies into critical workflows,” comments David Tobias, co-founder and COO of Betterview. “A full 36 percent of claim dollars are roof-related, but underwriters, loss control, and inspection teams often have a rough time getting an accurate view of roof conditions. Our platform removes the guesswork from that process, helping underwriters take strategic actions based on real risk drivers.”