In case you missed it in the news, we wanted to provide a quick recap on Plug and Play Ventures’ recent investment in Betterview (full press release).
Headquartered in Silicon Valley, Plug and Play was founded as a VC that went on to develop startup accelerator programs and corporate innovation services around the world to improve technological advancement across various industries.
Currently, Plug and Play has over 70 corporate partners in its Insurtech program. Some of its corporate partners include AIG, Axis Capital, EMC, Guidewire, Maiden Re, and Nationwide to name a few.
“Our relationship with Betterview goes back to 2016 when they were selected out of 800 startups to be part of our inaugural Insurtech batch,” said Gijs Dutry van Haeften, Senior Associate, Plug and Play Ventures. “We see a lot of value in the way Betterview has been able to leverage their extensive aerial imagery analysis capabilities and combine them with external data sources to tackle underwriting and loss control in a cost-effective manner. Furthermore, recent integrations with systems suppliers such as Guidewire that position Betterview as a full-service workflow management tool are a further testament to the platform that they have built. We believe this combination of tools together with the market need for better building and property data in the Property and Casualty space gives rise to a particularly exciting opportunity,” said Dutry van Haeften.
In August of 2018, Betterview announced the release of Property Profile, which uses aerial imagery, along with a growing number of other data sources like historical weather, to determine the characteristics and condition of a roof and the risk of future insurance claims. Over the last few months, Betterview has enhanced Property Profile by adding building permits, new AI roof detections, measurement and annotation tools, and oblique imagery.
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