Ohio Mutual Insurance Group
Minimize property risk with certainty
How Ohio Mutual reduced portfolio exposure using the Betterview platform and achieved a 64% reduction in inspection costs after two years.
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About Ohio Mutual
Ohio Mutual Insurance Group, founded in 1901 and based in Bucyrus, OH, partners with more than 500 independent agencies to distribute quality property and casualty insurance products throughout Connecticut, Indiana, Maine, New Hampshire, Ohio, Rhode Island, Vermont, and Wisconsin. Ohio Mutual has maintained a rating of “A / Stable” from A.M. Best Co. for 32 consecutive years, and has been named to the Ward’s 50 nine times since 2009. Additional company information is available at www.omig.com.
The challenge
Inaccuracies & inefficiencies
Ohio Mutual was committed to reducing risk across their book. They wanted a proactive approach – not a responsive one – to predict and prevent future damage. But, their existing workflows couldn’t reliably show them true property condition, leading to an overreliance on costly physical inspections.
They needed a way to remotely assess property condition for their entire portfolio with maximum efficiency and accuracy. Only then could they reduce the average level of risk across their book, and improve their combined ratio.
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The solution
Optimizing policy action through flagging
Our AI reveals property information, and our adaptable flagging engine transforms it into action. This allows Ohio Mutual to triage risk without ordering an inspection.
Here’s how it works:
- Computer vision scans property imagery, detects the presence of risk drivers, and spotlights them in our UI.
- Underwriters automatically flag properties with the spotlights most relevant to their business needs.
- Flagged properties with a high level of risk are prioritized for closer analysis – while low-risk properties are straight-through processed.
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“The flags on the Betterview Platform are the most reliable indicator of a property’s actual level of risk. Our underwriters use them every day.”— Steve Lust, Senior Underwriter, Ohio Mutual
Our insights trigger action from Ohio Mutual:
- ACV/Exclusion/NonRenewal – initially major action was taken on over 20% of the properties reviewed.
- Property reviews – the company is nearing 20,000 total property reviews using the platform.
The solution
Everything you ever wanted to know about a roof
Inclement weather has increased in the regions where Ohio Mutual writes, making roof condition extra relevant. Fortunately, the Betterview Platform offers a multitude of roof-specific insights powered by artificial intelligence.
- The 100-point Roof Condition Score reveals the presence of staining, ponding, missing shingles, and other factors correlated with future damage.
- Our Roof Age tool is the industry’s first accurate estimation of roof age, powered by AI and built on a foundation of historical imagery.
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More than just evaluating a single roof, these insights give Ohio Mutual a reliable predictor of future property damage. They can then proactively address these concerns, working together with the insured to reduce exposure and improve the overall risk score.
Business impact
Lowering risk & cutting expenses
By flagging their book based on relevant roof condition attributes and then prioritizing the risks associated with these flags, Ohio Mutual was able to:
- Lower the average risk score for properties in their book.
- Empower underwriters to work through more policies in less time.
- Reduce the budget spent on physical inspections — 64% reduced inspection costs after just 2 years.
After 2 years of book management using the tool, nearly 47% of Ohio Mutual’s property book has a visual score in the highest ranking decile (90-100). It was a win for all stakeholders involved.
Underwriters can now zoom out from individual policies and grasp the bigger picture of risk, allowing them to work faster and smarter.
The Betterview Platform gave Ohio Mutual an added degree of certainty in their risk evaluation process, allowing them to proactively mitigate risk instead of passively reacting to it. In the long term, this will directly translate into reduced expenses, better reinsurance rates, and – crucially – the ability to predict and prevent future losses.
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