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How Rockford Mutual cut risk and boosted efficiency by 28%

Jul 2024
Adopting the Betterview platform gave Rockford Mutual underwriters more detailed, up-to-date property intelligence.
Jul 2024

“ Before the Betterview platform, we spent a lot of time trying to predict where we wanted to do an inspection. So, we built models and pulled lots of data, but sometimes the data wasn't right. What we really lacked was a portfolio tool and that’s what the Betterview platform brought for us. We can now look at our whole book and identify the risk we need to look at most rather than trying to predict it ourselves.”

Rob Jacobson, President and CEO, Rockford Mutual

Rockford's ROI

0

%

More efficient, enabling faster decision making

0

 k

New annual on-site inspection budget

The challenge

Data accuracy required for efficient operations

Like many other insurance companies, Rockford Mutual Insurance was looking to optimise physical inspections and get an accurate view of property condition across their portfolio.  
  • Inspections inefficiency: Physical inspections are costly, have high turnaround times, and are often inaccurate.  
  • Underwriting inefficiency: Insurers need a way to remotely assess property condition across their portfolio to drive maximum efficiency in their workflows.  
  • Data inaccuracy: Multiple, and accurate, data sources are often required to get the full picture of risk for a given property. 
Rob Jacobson overcame similar challenges at a prior organisation by leveraging the Betterview property intelligence platform. Looking to repeat this success at Rockford, he determined the company should leverage Betterview as their risk management tool for personal, farm, and commercial lines. 

The solution

The Betterview platform

Rockford Mutual adopted the Betterview platform by Nearmap as a way to provide underwriters with more detailed, up-to-date property information. This includes -  
  • The Roof Spotlight Index, our 100-point roof score, spotlights the most relevant risk drivers such as missing shingles, staining, and ponding. It is the best proxy for what an inspector on the roof would have concluded, but available in a fraction of the time and cost. 
  • Natural Hazard and Peril Data, such as hail and wind, provide a predictive view of vulnerability and potential claims in high-risk regions.  
  • Permit data pulled from trusted partners for residential and commercial buildings for any property in their portfolio. 
  •  A Customisable Flagging Engine to empower underwriters to set their own business rules, prioritise properties that need the most attention, and straight-through process solid risks. 
By enabling their team with this information, underwriters can transparently communicate risks to insureds, accurately rate risk, and streamline the policy review process. 

Business Impact

Faster reviews. Lower costs. Smarter decisions.

Now, Rockford Mutual Insurance Company runs all new and renewing personal, farm, and commercial business risk through the Betterview platform. Since adoption, the Rockford Mutual team:
  • Has become 28% more efficient, enabling faster decision making. 
  • Reduced on-site inspection costs and are on track to drop by $100,000 USD, annually. 
  • Accelerated reviews without compromising accuracy with Nearmap imagery. 

“ We learned so much about out our policies and were able to improve the overall book of business through that [Nearmap] imagery. ”

Rob Jacobson, President and CEO, Rockford Mutual

Smarter property intelligence. Lower risk.

The Betterview Platform enabled Rockford Mutual to evaluate risk differently and continues to enable them to proactively manage their book of business and predict and prevent future losses.

Who is Rockford Mutual?

Rockford Mutual Insurance Company is a regional insurance provider founded in 1896 and operates in the US states of Illinois, Indiana, and Wisconsin. Their mission is to help families, individuals, and businesses today and during their time of need by providing exceptional services, innovation, security, ease of doing business, and paying claims promptly and fairly.  
Rob Jacobson recently joined the organisation as President and CEO and shifted the business focus to prioritising efficiency across the organisation. As part of Rockford’s mission – the organisation aims to live their core values while leveraging technology to expedite help to those who need it most.