[ad_1]
Geospatial options supplier Nearmap is bolstering its insurance coverage capabilities with an settlement to accumulate insurtech firm Betterview.
Based mostly in San Francisco, US, Betterview is engaged in providing property intelligence and danger administration options to the insurance coverage trade.
The corporate leverages pc imaginative and prescient and synthetic intelligence (AI) to boost and automate the underwriting and inspection processes, in addition to to detect and scale back property danger.
For Nearmap, which was established in Australia in 2007 and expanded to the US in 2014, the acquisition types a part of its international progress technique.
Nearmap stated the acquisition will strengthen its place as a supplier of images intelligence, information and options, and improve its capabilities for companions and insurance coverage shoppers.
The businesses collectively goal to facilitate the event of insurance coverage options, enhance underwriting, mitigate dangers, present deeper analytics, and improve visualisation and interpretation of property attributes.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
helpful
choice for your small business, so we provide a free pattern you can obtain by
submitting the under kind
By GlobalData
Nearmap CEO Andy Watt stated: “Integrating the Betterview platform and AI options into the Nearmap know-how stack will allow higher visualisation of the reality on the bottom with a richer, extra highly effective set of AI capabilities that mix the perfect of each firms.
“This can be a important milestone in our ongoing efforts to innovate options for insurance coverage carriers, and increase our presence throughout the property and casualty area.”
Betterview co-founder and CEO David Lyman stated: “Combining the choices of two best-in-class suppliers will ship larger impression for insurers. The acquisition of Betterview by Nearmap will improve entry to premium imagery and cutting-edge, scalable property intelligence options for the insurance coverage trade.”
Completion of the acquisition is topic to regulatory approvals.
In the beginning of this yr, Betterview raised an undisclosed quantity of funding from present backers EMC Insurance coverage, Guidewire Software program, Nationwide, MaidenRE and ManchesterStory.
In July 2022, Nearmap and Betterview teamed as much as supply a distant injury evaluation answer for insurers.
[ad_2]