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2 min read

Prevent Hurricane Losses with Actionable Insights: A New White Paper from Betterview

Download Betterview Hurricane White Paper

Betterview has developed a new white paper on why P&C insurers must get a complete picture of hurricane risk to help policyholders minimize their vulnerability to hurricane losses. The release of this new white paper coincides with the launch of the newest feature to our platform: Hurricane Risk Insights.  

 Download White Paper

On September 28th, 2022, Hurricane Ian made landfall in Southwestern Florida, bringing with it widespread flooding and destruction. As rescuers and government officials across the state hurried to respond, thousands of Floridians were forced out of their homes and millions went without power. With a death toll of over 120 people, Ian is the deadliest storm to hit the state since 1935. The storm’s impact on many Floridians has just begun as they return to damaged and destroyed homes. Sadly, as hurricane seasons in recent years have continued to worsen, this story has become all too common.  

The devastating impact of Hurricane Ian embodies the crisis currently facing P&C insurers, especially in coastal states like Florida. As catastrophic events increase in frequency and severity, how can insurance companies continue to provide the best protection to their customers while remaining profitable? Many insurance companies have opted to abandon their Florida policies in light of increased risk. But this cannot be the only option. There must be some way that insurers can appropriately price risk, while predicting and preventing losses on vulnerable properties.  

  

A Hurricane Solution for Insurers  

The Betterview Hurricane Risk Insights are the solution to this challenge. The Betterview platform combines regional hazard data – sourced from industry-trusted partners such as HazardHub – and proprietary property-specific vulnerability data in order to create a comprehensive, actionable view of real hurricane risk. This allows underwriters to proactively determine which properties are at the highest risk of hurricane damage, and work together with the insured to mitigate risk. Insurers can consequently write more policies in higher-risk areas without sacrificing profitability, while simultaneously improving their relationship with policyholders.  

The Betterview team has done a tremendous amount of work analyzing the factors that contribute to hurricane risk, training computer vision models, and integrating these insights into a single, easy-to-use platform. We have written up a white paper with input from our engineering and machine learning team. In this white paper, you will learn:  

  • How to see the complete picture of hurricane risk  
  • The research and methodology behind our new Hurricane Risk Insights and Vulnerability Score  
  • How the Betterview Hurricane Vulnerability Score predicts hurricane damage  
  • How you can prevent avoidable losses and provide security to your customers  

Download the white paper now, and make sure to set up a demo to learn how Betterview can help you better protect homeowners, businesses, and communities. 

Download White Paper

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