Frederick Mutual enters commercial agreement with AI start-up

Frederick Mutual Insurance Company has signed a commercial agreement with Betterview – a start-up that develops solutions for the property insurance market – to leverage the latter’s AI-powered property risk management platform. Terms of the agreement were not disclosed. Through the agreement, Frederick Mutual will utilize Betterview’s property analytics to enhance the lifecycle of its policies – from loss control and underwriting to claims and catastrophe response. Betterview’s platform is used by personal lines and commercial lines carriers to identify and score roofing conditions, as well as other related property risks. The start-up makes this possible through the use of machine learning and computer vision to analyze aircraft and satellite imagery. The data from the images is then combined with data on building records and weather history to determine the roofing’s characteristics and condition, as well as the risk of future loss.