Insight into property changes over time provided through Betterview’s PropertyPulse will help insurers better understand and manage property risk
San Francisco, CA (Feb. 1, 2022) – Betterview, an InsurTech provider of actionable property intelligence to property and casualty (P&C) insurance companies, is pleased to announce the immediate availability of a new Defensible Space feature which will enable insurers using the company’s Remote Property Intelligence Platform to better protect vulnerable properties against catastrophic weather damage.
According to CalFire, Defensible Space is “the buffer you create between a building on your property and the grass, trees, shrubs, or any wildland area that surround it.” Betterview’s Defensible Space feature includes a color-coded map and a numerical score for each structure. The map displays the amount of Defensible Space in each of three zones, as defined by CalFire and other disaster preparedness authorities, surrounding the structure. The score, similar to Betterview’s Roof Spotlight Index, shows the Defensible Space for each structure, and how vulnerable it is to damage. In addition to this map and score, Betterview’s PartnerHub pulls in weather and catastrophe-specific third-party data from companies such as RedZone and Canopy Weather to further inform a property’s level of risk.
“Defensible Space has become a major area of interest for P&C insurers recently,” said Madeleine Lopeman, lead data scientist for Betterview. “In addition to overall property condition, insurers writing in high-risk regions are starting to consider how maintaining Defensible Space helps protect properties against damage from different types of catastrophic events. This new feature easily identifies the Defensible Space for each structure and provides a score indicating whether that space is sufficient or not to protect against damage.”
Betterview’s Defensible Space feature comes just in time for many insurers, who have been forced to adopt new strategies in the face of dramatic weather events caused by climate change.
“Rising temperatures have led to a 100 percent increase in wildfires in Western states since the 1980s,” said David Tobias, co-founder and chief of operations for Betterview. “Betterview’s new Defensible Space feature enables insurers to take smarter, more decisive actions in loss control, especially when used alongside other features on our platform. We are moving away from the reactive ‘repair and replace’ mindset in property insurance by providing tools to transform underwriters and agents into insurance heroes. They can proactively inform policyholders of vulnerabilities on their property, such as insufficient Defensible Space caused by encroaching vegetation. That way, we can actually predict and prevent future losses.”
Betterview was founded with the mission of helping P&C carriers better identify and manage property risk. It was created with a deep, first-hand understanding of the challenges that carriers have faced in obtaining high-quality, actionable insight. Betterview’s remote property intelligence platform enables carriers to provide a better experience to their insureds and agents while improving their bottom line. For more information, visit www.betterview.com.
SOURCE: BetterviewTags: Betterview, InsurTech, InsurTech Spotlight, launch