Nationwide Makes Venture Capital Investment In AI And Drone Technology Company | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.29.24

Airborne-Unlimited-04.23.24

Airborne-Unlimited-04.24.24 Airborne-FltTraining-04.25.24

Airborne-Unlimited-04.26.24

Sun, May 13, 2018

Nationwide Makes Venture Capital Investment In AI And Drone Technology Company

'Betterview' Will Help Company Provide Better Insurance Services

On the eve of the 2018 hurricane season, Nationwide is making a new venture capital investment to enhance its ability to write business and service claims leveraging artificial intelligence (AI) and drone technology.  The company's investment in Betterview is part of its commitment to finance more than $100 million of venture capital in customer-centric solutions that help members.

"Drones and artificial intelligence will play a critical role in meeting the needs of our customers in the future of both underwriting and claims response. It's why we're so excited about this partnership with Betterview," said Scott Sanchez, Nationwide's chief innovation officer. "These capabilities will drive faster response in the wake of catastrophic events, enhanced underwriting sophistication for day-to-day business and a better overall experience for our members."

The Nationwide venture investment is being used to extend Betterview's machine learning platform across additional data sources to unlock valuable insight about commercial and residential properties for P&C insurers and reinsurers. Betterview's machine learning platform, generates data and analytics on building and property conditions, characteristics, and potential hazards by analyzing satellite, aerial, and drone imagery. This information can be used throughout an organization, from loss control and underwriting, to claims and catastrophe response.

"After assessing many other companies in the marketplace, we quickly noticed how Betterview's experience translated into significantly better software, services, and data for insurers like Nationwide," said Erik Ross, leader of Nationwide's venture capital team.  "When we first met the team, their sole focus was on using drones to transform how buildings and properties were inspected. They have since evolved by enhancing artificial intelligence capabilities, building a mobile app, developing a roof risk score, and integrating various third-party data providers to put historical weather, property hazard risks, and building information at the customer's fingertips."

With the new investment in Betterview, Nationwide's venture capital team has made nine investments to date, including Nexar, Matic, blooom, Insurify, Next Insurance, as well as Sure.

(Source: Nationwide news release)

FMI: www.nationwide.com

Advertisement

More News

ANN's Daily Aero-Term (04.28.24): Airport Marking Aids

Airport Marking Aids Markings used on runway and taxiway surfaces to identify a specific runway, a runway threshold, a centerline, a hold line, etc. A runway should be marked in ac>[...]

Aero-News: Quote of the Day (04.28.24)

"It is extremely difficult, if not impossible, for manned aircraft to see a drone while conducting crop-enhancing and other aerial applications at low altitudes and high speeds. We>[...]

ANN's Daily Aero-Linx (04.28.24)

Aero Linx: The Skyhawk Association The Skyhawk Association is a non-profit organization founded by former Skyhawk Pilots which is open to anyone with an affinity for the A-4 Skyhaw>[...]

Aero-News: Quote of the Day (04.29.24)

“The T-54A benefits from an active Beechcraft King Air assembly line in Wichita, Kansas, where all required METS avionics and interior modifications are installed on the line>[...]

ANN's Daily Aero-Linx (04.29.24)

Aero Linx: Aerostar Owners Association The Association offers the Aerostar Owner a unique opportunity to tap an invaluable source of information concerning the care and feeding of >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC