AI start-up Betterview strikes commercial deal with EMC Insurance post $4.5m Series A
California-based artificial intelligence (AI) start-up Betterview, an insurtech platform provider for property transactions, has entered into a commercial agreement with EMC Insurance Companies.
The partnership will enable EMC to leverage Betterview’s predictive analytics and risk management platform in commercial lines underwriting.
It follows EMC's recent investment in Betterview’s $4.5 million Series A round, which was led by Manchester Story, with participation from Nationwide Ventures, Maiden Re and Compound.
Founded in 2014 by technology and insurance entrepreneurs David Lyman and Dave Tobias, Betterview started off as a drone-based property inspection platform and service. In 2018, the company launched its risk management platform, which leverages machine learning, computer vision and geospatial data to deliver data, analysis and insights on commercial and residential properties throughout the US.
“We’re aligned with Betterview in a lot of ways, so it made sense for us to participate in their Series A round,” said Chad Veach, EMC's risk improvement innovation manager. “We feel their product is going to be valuable for us and the industry as a whole. We intend to use it in our underwriting process and to identify policyholders who could benefit from our drone-based roof assessments.”
Betterview CEO and co-founder Lyman, said: “When it comes to Insurtech investments and partnerships, EMC is always evaluating the marketplace for new tools and technologies that can improve agent and customer engagement. We are extremely proud EMC saw the value of our risk management platform and predictive analytics to support their agents and educate their customers on potential roof issues,” explained Lyman.
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