FMI Partners with Nearmap's Betterview for Enhanced Underwriting
Franklin Mutual Insurance Group (FMI) has partnered with Nearmap to utilise the Betterview platform for underwriting. Since implementation, FMI has analysed over 75,000 policies, uncovering previously overlooked risks such as roofless barns and abandoned vehicles.
The partnership has led to significant operational cost reductions and supports FMI's expansion into new states. FMI's underwriting vice-president Matthew McCauley lauded the platform for enhancing underwriting efficiency and aiding the company's mission to safeguard policyholders.
The platform enables FMI to identify high-risk properties, reduce field inspections, and maintain underwriting decision consistency. In the coming year, FMI plans to extend Betterview's use to include additional data layers like roof age and expand into commercial real estate lines.
FMI will leverage high-resolution aerial imagery and AI-powered property insights from Betterview for faster, more informed underwriting decisions. Nearmap's chief product officer David Tobias commended FMI's dedication to innovation and the tangible results achieved through the Betterview platform.
FMI's partnership with Nearmap and use of the Betterview platform has led to improved risk identification and operational cost savings. The company plans to further enhance its underwriting capabilities by incorporating additional data layers and expanding into international commercial real estate lines.
