Betterview Announces Partnership with True Flood Risk

GlobeNewswire

SAN FRANCISCO, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Betterview, the insurtech company leading insurers rely on to identify and manage real property risk, today announced a new partnership with True Flood Risk, the mission-driven company dedicated to helping property owners and communities understand and plan for flood risk.

True Flood Risk was founded by Shelly Klose in 2017, inspired by her experience with Hurricane Sandy in New Jersey in 2012. Klose was curious why some houses in her neighborhood experienced significant flood damage during the storm while others remained relatively unscathed. This curiosity led her to develop a patented technology for estimating first floor height (FFH) of properties, a key indicator for flood risk. This solution formed the foundation for what has quickly become a leading global AI-driven risk management platform, pioneering the next generation of geolocation intelligence for flood risk.

“There are a lot of other flood scores in this industry, but True Flood Risk is the only company I know of that delivers a reliable estimation of FFH for nearly every property in an insurer’s book of business,” says Armin Monajemi, vice president of strategic partnerships at Betterview. “Shelly and her team looked at the gaps that existed for flood intelligence and developed an innovative technology to fill in those gaps. This is exactly in line with our own mission at Betterview, and we are proud to be partnering with such a forward-looking company. For both underwriting and claims use cases, the partnership between our two companies is going to be a great benefit for insurers.”

Data from True Flood Risk is now available on Partnerhub, the marketplace for third-party data within the Betterview Property Intelligence & Risk Management Platform. The partnership between the two companies is an exciting opportunity, according to Klose. She noted, “This is not just going to make our data more accessible to a wide range of insurance companies. There is also an opportunity to enhance our solutions by combining them with data from other Betterview partners, such as microsatellite imagery from Iceye. Insurers can synthesize datasets and tools from many different companies, giving them a complete and actionable view of flood risk in a single, easy-to-use interface.”

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 True Flood Risk: True Flood Risk is an AI-driven technology company that provides precise, affordable and instant global climate risk analytics and geolocation intelligence related to flooding. Powered by its patented flagship solution that instantly estimates the structural elevation of individual properties, also referred to as first floor height (FFH), True Flood Risk delivers actionable insights to help property owners, renters, insurers, resilience experts, floodplain managers, financial institutions and investors to identify, understand and mitigate flood risk. Additional proprietary platform features include property-level and community-based flood insurance premium estimates, historical claims analysis tools, flash and river flooding simulations, incoming weather monitoring services, expected substantial loss estimate calculators and optimal mitigation strategies resources. For more information visit: www.truefloodrisk.com.