Solution streamlines safe and effective damage assessment post-disaster
Arturo, the property intelligence company that delivers portfolio-wide underwriting, risk and claims insights, today announced a global expansion of its catastrophe response capabilities to the United States insurance market.
Over the past few years, Arturo has proven the value in bridging disparate data sets to derive impactful property insights, playing a crucial role in providing insurtech solutions in Australia, where climate change-induced extreme weather events have cost each Australian household $888 on average over the past ten years. In the 2021-2022 year, that cost rose to $1,532, and that figure is expected to jump to $2,500 by 2050 due to the increasing frequency and severity of extreme weather. By working strategically with companies in the region, such as ICEYE, Vexcel Imaging and the Early Warning Network (EWN), Arturo leveraged AI to build a solution to contend with these events before, during and after they occur.
Traditional event response relies on reactive tactics, waiting until after severe weather clears to jump into action. To streamline claims, Arturo instead takes a proactive approach. Arturo’s AI-powered models integrate all past, present, and future-modeled insights and environmental impacts needed for accurate and quick claims management. Not only can carriers warn policyholders in advance of potential impact and recommend mitigative actions, but carriers can also assess the event in real-time, helping to ensure adjusters are deployed safely and strategically.
"Australia is a bellwether for the U.S. insurance industry," said Arturo CEO Greg Oslan. "The climate, which is often burdened by natural disasters and extreme weather, combined with the country's regulatory landscape, creates a unique set of challenges for insurance carriers. These obstacles have prompted them to adopt technology more rapidly, pushing the technology to innovate and constantly redefine the industry's future and what the norm is for policyholder experiences. Arturo has been a key part of that process and understands how to translate this success to the U.S. market."
This announcement further solidifies Arturo's position as the leading portfolio intelligence provider across the entire insurance lifecycle. In conjunction with the claims solution unveiled at PLRB, this capability will unite events and their impact on property to create true insights for carriers when they need them most. Arturo’s holistic approach allows the insurtech to partner with insurers through every step of the process, helping them to significantly reduce costs, better respond to policyholders and predict impact across portfolios.
About Arturo
Arturo’s AI-based solution helps insurers securely underwrite risks, efficiently allocate resources, and lower claims cost across their book of business, allowing them to focus on what matters most: the customer, and our shared commitment to protecting our world. See more about what Arturo can do at arturo.ai.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230606005387/en/
Contacts
Alison Smith
alison@ink-co.com
