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-05.06.24

Airborne-NextGen-05.07.24

Airborne-Unlimited-05.08.24 Airborne-FlightTraining-05.09.24

Airborne-Unlimited-05.10.24

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

Aero-News: Quote of the Day (05.09.24)

"Fly-by-wire flight, coupled with additional capability that are being integrated into ALFA, provide a great foundation for Bell to expand on its autonomous capabilities. This airc>[...]

ANN's Daily Aero-Term (05.09.24): Hold Procedure

Hold Procedure A predetermined maneuver which keeps aircraft within a specified airspace while awaiting further clearance from air traffic control. Also used during ground operatio>[...]

ANN's Daily Aero-Linx (05.09.24)

Aero Linx: B-21 Raider The B-21 Raider will be a dual-capable penetrating strike stealth bomber capable of delivering both conventional and nuclear munitions. The B-21 will form th>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

Airborne-NextGen 05.07.24: AI-Piloted F-16, AgEagle, 1st 2 WorldView Sats

Also: Skydio Chief, Uncle Sam Sues, Dash 7 magniX, OR UAS Accelerator US Secretary of the Air Force Frank Kendall was given a turn around the patch in the 'X-62A Variable In-flight>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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