Betterview Enables Carriers to Take Proactive and Inclusive Approach to Mitigate Property Risk
Summary
"The dramatic move underlines the importance of developing more proactive and inclusive insurance solutions during a time of increased risk," says David Tobias, co-founder of insurtech platform Betterview. And while this approach may seem to make sense for the carriers’ bottom line, I am worried that in the long term it will erode trust and create a more hostile relationship between the insurers and their insured.” The other approach that carriers can choose to adopt moving forward, according to Tobias, would be one that is more proactive and inclusive, allowing insurers and homeowners to become partners in risk mitigation. This could be as simple as repairing a roof or trimming back some trees on the property, but the result is a lower loss ratio for carriers, reduced disruption and uncovered losses for insureds, and a partnership between the two built on transparency, shared goals, and mutual trust.” The need for a more inclusive approach to property insurance comes amidst increased climate related risks, particularly in coastal states. This is in recognition of the fact that the Atlantic region has seen major storm activity prior to the start of June for six consecutive years, reports CNN. We provide software and services that capture, organize, and analyze data for buildings and properties to unlock valuable insight.