SAN FRANCISCO, January 31, 2023 (GLOBE NEWSWIRE) — Better viewthe insurtech company that leading insurers rely on to identify and manage property risks, today announced a new partnership with TRUE Flood riskthe mission-driven company that helps homeowners and communities understand and plan for flood risk.
TRUE Flood risk was founded by Shelly Klose in 2017, inspired by her experience with Hurricane Sandy in New Jersey in 2012. Klose was curious as to why some homes in her neighborhood suffered extensive flood damage during the storm while others remained relatively untouched. This curiosity led her to develop a patented technology to estimate the first floor height (FFH) of properties, a key indicator of flood risk. This solution formed the basis of what quickly became a global AI-based risk management platform pioneering the next generation of location-based intelligence for flood risk.
“There are many other flood scores in this industry, but True Flood risk is the only company I know of that provides a reliable FFH estimate for nearly every property in an insurer’s business portfolio,” says Armin Monajemi, Vice President of Strategic Partnerships at Betterview. “Shelly and her team looked at the flood information gaps that existed and developed innovative technology to fill those gaps. This aligns exactly with our own mission at Betterview, and we are proud to partner with such a forward-looking company. For underwriting and claims use cases, the partnership between our two companies will be of great benefit to insurers. »
Data of True Flood risk is now available on Partnerhub, the marketplace for third-party data within the Betterview Property Intelligence & Risk Management platform. The partnership between the two companies is an exciting opportunity, according to Klose. She noted: “It’s not just going to make our data more accessible to a wide range of insurance companies. There is also a possibility of to improve our solutions by combining them with data from other Betterview partners, such as Iceye’s microsatellite imagery. Insurers can synthesize datasets and tools from many different companies, giving them a comprehensive and actionable view of flood risk in a single, easy-to-use interface.
About Betterview: Betterview is the real estate intelligence and risk management platform that leading P&C insurance companies depend on to identify and mitigate risk, improve operational and inspection efficiencies, and create a more seamless customer experience throughout. throughout the lifecycle of the font. By enabling insurers to automate pricing, underwriting and renewal while focusing strategic action on critical properties, Betterview transforms the insurance industry from repair and replacement to prediction and prevention. For more information, please visit www.betterview.com.
About True Flood risk: TRUE Flood risk is an AI-driven technology company that provides accurate, affordable and instantaneous analysis of global climate risk and flood-related geolocation intelligence. Powered by its flagship patented solution that instantly estimates the structural elevation of individual properties, also known as first floor height (FFH), True Flood risk provides actionable insights to help owners, tenants, insurers, resilience experts, floodplain managers, financial institutions and investors identify, understand and mitigate flood risk. Additional features of the proprietary platform include property and community level flood insurance premium estimates, historical loss analysis tools, flash and river flood simulations, monitoring of incoming weather conditions, calculators for estimating expected substantial losses and resources of optimal mitigation strategies. For more information visit: www.truefloodrisk.com.
