Utica First Insurance Company Selects Betterview Property Intelligence Platform

The solution helps Utica First’s underwriters gain a better understanding of risk on every policy by analyzing insured properties from a high-resolution aerial imagery perspective.

(Image source: Utica First homepage.)

Utica First Insurance Company (Oriskany, N.Y.) has selected the Betterview’s (San Francisco) Property Intelligence Platform to improve underwriting efficiency, increase profitability, and reduce loss adjustment expenses (LAE).

Shawn Kain, Chief Underwriting Officer, Utica First.

Founded in Utica, New York in 1903, today Utica First writes homeowners, landlord package, restaurant and tavern program, artisan contractor, and businessowner policies (BOP) business in Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Virginia. Utica First says that a choice to maintain a narrow focus instead of trying to be “everything to everyone,” has enabled faster growth and greater profitability over the years, and the company actively incorporates new technologies and partners in order to maximize operating efficiency, speed-to-market, and fair rates to policyholders.

“We selected Betterview and the Property Intelligence Platform to help our underwriters gain a better understanding of risk on every policy by analyzing insured properties from a high-resolution aerial imagery perspective which reveals potential exposures that traditional physical property inspections simply don’t discover,” comments Shawn Kain, chief underwriting officer, Utica First. “Not only will we write better policies with the data we get through Betterview, but we will also maximize our efficiency and drive down expenses. The ultimate goal is to predict and prevent losses. Betterview represents a major step in achieving that goal.”

David Tobias, Co-Founder and COO, Betterview.

Betterview’s Property Intelligence Platform is designed to streamline underwriting workflows, prevents future losses, and helps property/casualty insurance company clients build a more effective, transparent customer experience, according to the vendor. The platform, which includes the integrated PropertyInsight tool, the Roof Spotlight Index, and a recently announced Defensible Space feature, is powered by a combination of cutting-edge technology, including proprietary machine learning (ML) algorithms and a wide selection of public, private, and commercial property data. All of these insights are housed in an intuitive, single-screen platform that gives underwriters a holistic view of real property risk, empowering them to take immediate, decisive action on every covered property.

Neil Weiss, Sales Director, Betterview.

“The modern underwriter is given access to an overwhelming amount of property data, and not all of this information is created equal,” comments David Tobias, Chief Operations Officer, Betterview. “What the Betterview platform excels at is transforming data into action.”

“Underwriters are given total control over which data is inputted –including third-party data from industry-leading providers, such as RedZone, HazardHub, and Canopy Weather,” says Neil Weiss, sales director, Betterview. “They are then able to flag properties that meet specific requirements, such as those at a high risk of wildfire damage, and create customizable workflows to enable policy action. A full 86 percent of users report taking direct action after viewing the insights on our platform.”

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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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