Betterview and Guidewire Premiere Comprehensive Hail Risk Insights to Predict Roof Damage
15 November 2022 - 12:55AM
Betterview, the insurtech company leading P&C insurers rely on
to identify and manage real property risk, and Guidewire (NYSE:
GWRE), the platform P&C insurers trust to engage, innovate, and
grow efficiently, today announced the launch of Betterview’s new
Hail Risk Insights, created in collaboration with Guidewire. Hail
Risk Insights, including a comprehensive Hail Risk Indicator
(powered by Guidewire HazardHub hail risk data), will be available
on the Betterview Property Intelligence & Risk Management
Platform, allowing users to predict and prevent losses, reduce
premium leakage, and build a better customer experience.
Hail Risk Insights joins Betterview’s suite of peril risk
insights, built to help insurers respond rapidly and proactively to
catastrophic events. Thanks to the partnership between Betterview
and Guidewire, the Hail Risk Indicator reflects both regional
hazard and property-level vulnerability. This synthesis of
vulnerability and hazard results in a single, reliable indicator of
overall hail risk which insurers can use to predict future roof
damage.
“I was very excited when Guidewire approached us with the idea
of a Hail Risk Indicator,” says Jason Janofsky, chief technology
officer at Betterview. “We already had the ability to create a
vulnerability score for hail damage, which tells you how much a
property will be damaged if a hail event occurs. With Guidewire’s
regional hazard data, we are also able to determine the likelihood
a hail event will occur in a given geographical area. Together, we
have created a better picture of real hail risk, which we believe
will be invaluable to insurers looking to anticipate losses and
price risk appropriately.”
“This takes much of the guesswork out of hail for insurers,
allowing them to confidently price risk in hail-prone regions. Not
only does this help them avoid premium leakage, but it adds a
significant value for the insured as well,” said Roger Arnemann,
senior vice president and general manager, Analytics at Guidewire.
“If you can tell your policyholder ‘fix this section of your roof
and you will be more protected against hail damage,’ then that is
far more painless than paying out a large claim in the future.
Better communication with the insured and an improved loss ratio
are two reasons why we expect Hail Risk Insights to be very
popular.”
Hail Risk Insights by Guidewire and Betterview is soon available
to all Betterview platform users. Reach out today to learn how
Betterview can help you predict and prevent losses, including hail
damage!
About Betterview: Betterview is the Property
Intelligence & Risk Management Platform that leading P&C
insurance companies depend on to identify and mitigate risk,
improve operational and inspection efficiency, and build a more
transparent customer experience throughout the policy lifecycle. By
empowering insurers to automate pricing, underwriting, and renewal
while focusing strategic action on critical properties, Betterview
is transforming the insurance industry from Repair and Replace to
Predict and Prevent. For more information, please visit
www.betterview.com
About Guidewire: Guidewire is the platform
P&C insurers trust to engage, innovate, and grow efficiently.
We combine digital, core, analytics, and machine learning to
deliver our platform as a cloud service. More than 500
insurers in 38 countries, from new ventures to the largest and most
complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable
their success. We are proud of our unparalleled implementation
track record, with 1,000+ successful projects, supported by the
largest R&D team and partner ecosystem in the industry. Our
marketplace provides hundreds of applications that accelerate
integration, localization, and innovation.
For more information, please visit www.guidewire.com and follow
us on Twitter and LinkedIn.
Media Contact:
Zach O’Leary
Betterview
zoleary@betterview.com
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