On the eve of the 2018 hurricane season, Nationwide is making a new venture capital investment to enhance its ability to write business and service claims using artificial intelligence (AI) and drone technology. The company’s investment in Betterview is part of its commitment to finance more than $100 million of venture capital in customer-centric solutions that help its members.
“Drones and artificial intelligence will play a critical role in meeting the needs of our customers in the future, both underwriting and claims response. That’s why we’re so excited about this partnership with Betterview,” said Scott Sanchez, Chief Innovation Officer of Nationwide. “These capabilities will drive faster response in the wake of catastrophic events, enhanced underwriting of day-to-day business sophistication and better overall experience for our members. “That’s right.
The nationwide venture investment is being used to extend the Betterview machine learning platform across additional data sources to unlock valuable insights into commercial and residential properties for P&C insurers and reinsurers. Betterview’s machine learning platform generates data and analysis on building and property conditions, characteristics and potential hazards by analyzing satellite, aerial and drone imagery. This information can be used across the organization, from loss control and underwriting to claims and disaster response.
“After assessing many other companies in the marketplace, we quickly noticed how Betterview’s experience translates into significantly better software, services, and data for insurers like Nationwide,” said Erik Ross, leader of Nationwide’s venture capital team. “When we first met the team, their only focus was on using drones to transform the way buildings and properties were inspected. Since then, they have evolved through the enhancement of artificial intelligence capabilities, the development of a mobile app, the development of a roof risk score, and the integration of various third-party data providers to put historic weather, property hazards, and the building of customer information at their fingertips. “That’s right.
With the new investment in Betterview, the Nationwide Venture Capital Team has made nine investments to date, including Nexar, Matic, bloom, Insurify, Next Insurance and Sure.
Last August, Nationwide announced its commitment to invest more than $100 million in venture capital in customer-centric solutions to help members:
Live in retirement comfortably
Meet their insurance and financial needs in a novel and digital manner.
Protect your data and digital assets
Protect them in the changing area of mobility
About the whole nation
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Oh, S And both of them are rated A+ by A Oh, M The Best and the Standard & Poor The company provides a full range of insurance and financial services, including auto, commercial, homeowner, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; pet, motorcycle and boat insurance. Visit www for more information. National Come on,
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