Maiden Re continues support for insurtech firm
Bermudian-based reinsurer Maiden Re has provided further support to insurtech and artificial intelligence start-up Betterview, which has raised an additional $7.5 million of investment.
Betterview, a US company, has now secured investment capital totalling $17 million.
It uses technology, including computer vision and AI, to capture and analyse imagery of data for buildings and properties, which can be used by the property insurance industry in underwriting.
Betterview also has a risk management platform, which leverages machine learning, computer vision and geospatial data to deliver data, analysis and insights on commercial and residential properties throughout the US.
The latest round of funding will expand Betterview’s capabilities in the remote property intelligence space. The investment funding was led by ManchesterStory, with participation from Maiden Re, Chestnut Street Ventures, and others. Significantly, there was new funding from Guidewire Software, a company with which Betterview has a relationship.
Mike Chen, vice-president of corporate development at Guidewire Software, said: “We were impressed by the results our mutual customers are achieving with Betterview’s platform. This investment underlines Guidewire’s commitment to fostering an ecosystem of partner solutions to serve the P&C industry.”
Since launching its remote property intelligence platform less than two years ago, Betterview now supports 20 companies in production to help them manage their property risk.
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Ada Foggo (1928-2020)
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