SAN FRANCISCO, Aug. 31, 2023 (GLOBE NEWSWIRE) — Fairmont Farmers Mutual Insurance Company, a provider of quality services to their members since 1889, today announced they have selected insurtech company Betterview. Fairmont will leverage the property intelligence tools on the Betterview platform to improve loss control and optimize inspection efficiency, particularly during winter months.
Fairmont focuses primarily on insuring farming communities in Minnesota and recently expanded into Iowa. One of their significant challenges was obtaining a clear and comprehensive view of property condition to assess risk, particularly during the harsh winter weather in the Midwestern states. In keeping with their forward-thinking approach, Fairmont sought out an insurtech partner to accurately price risk throughout the year without relying exclusively on boots-on-the-ground inspections.
Betterview solved Fairmont’s problem with a combination of historical imagery and predictive risk insights. “When there’s snow on the roof, inspectors can’t get an accurate view of preexisting damage, and our underwriters are left in the dark about relevant risk drivers like missing shingles or staining,” said Ben Jacobs, chief operating officer, at Fairmont Farmers. “Betterview shows us historical imagery from a date when there wasn’t snow on the roof. Their computer vision tools also tell us if we’re dealing with a high or low-quality roof. We used to send inspectors to every property, but with Betterview we can be more strategic when we deploy boots-on-the-ground inspections and when we straight-through-process. It’s a huge boost to our efficiency.”
Dave Tobias, co-founder and chief operations officer at Betterview, believes the company is uniquely positioned to eliminate blind spots from the underwriting and loss control process. “Our platform is a great option for mutuals like Fairmont who want to keep pace with digital transformation. Equipped with the AI tools on our platform, and with up to 20 years of historical imagery from our strategic ally Eagleview, Fairmont can continue to provide excellent service regardless of inclement weather and other evolving risk factors.”
About Betterview: Betterview is the Property Intelligence & Risk Management Solution the insurance industry depends on to identify and mitigate property risk, improve underwriting and inspection efficiency, and build a more transparent customer experience. Applying Artificial Intelligence (AI) and computer vision to aerial imagery and geospatial data, Betterview generates the most accurate property information insurers trust to automate pricing, underwriting, and renewals while focusing strategic action on critical properties. For more information, please visit www.betterview.com.
About Fairmont Farmers: Fairmont Farmers Mutual Insurance Company was founded in 1889 to meet the insurance needs of the Fairmont area, filling a gap left by major eastern insurers. From its roots in underwriting fire and extended coverage, Fairmont expanded in 2002 to cover wind and hail, introducing additional lines of business that significantly impacted its financial trajectory. In 2019, the company received a license to provide property and liability coverage throughout Iowa. Managed by a local board of directors, management, and staff, Fairmont Farmers Mutual has remained financially robust, offering stable rates and prompt claim settlements. Its commitment to providing competitive coverage, coupled with the personal touch of a local mutual insurance company, positions it as both capable and relatable to its clientele. For more information, visit www.fairmontfarmersmutual.net.
Media Contact:
Zach O’Leary
Betterview
[email protected]
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