Munich Re partners with AI insurtech drone startup
Munich Re has partnered with California-based AI startup Betterview for the supply of drone imagery, analysis and reporting to Munich Re’s insurance company clients.
Betterview offers drone-based inspection services to capture high-resolution images of residential and commercial properties. Betterview also offers cloud-based software to organise, store and analyze the captured images to support an insurance company’s underwriting inspection, loss control and claims adjustment processes.
As part of the agreement, Munich Re will refer insurance company clients that can benefit from the building/property data, analysis and insights that Betterview offers. Interested insurance companies would be able to purchase Betterview’s services for a fee.
“We are always looking to collaborate and drive innovation activities with our insurance company clients,” said Tim Brockett, senior vice president, Munich Re. “Not only are we impressed with Betterview’s technical capabilities, we believe that their commitment to creating value for the insurance industry really sets them apart from their competitors in the drone space, delivering high-level data, analysis and insights into buildings and properties.”
Betterview, founded in late 2014, has so far inspected over 15,000 properties for over 90 insurance clients.
“We are extremely proud that Munich Re selected Betterview as its referral partner,” explained David Lyman and Dave Tobias, co-founders, Betterview. “With the close of our series seed funding round in September, Betterview is uniquely positioned to meet the evolving needs of Munich Re’s clients.
“Over the last few months, we have invested heavily into the expansion of our engineering and operations teams. This expansion has allowed us to focus on broadening our machine learning/computer vision capabilities, enhancing our software platform, creating new partnerships, as well as launching a soon to be released version two of our mobile application,” said Lyman and Tobias.
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