Nearmap, the Australian location intelligence firm, has inked a deal to acquire Betterview, an AI-driven property intelligence and risk management solution, renowned as the “insurance industry’s essential solution.“ Betterview employs AI and computer vision on geospatial data, offering insurers accurate property insights for automated pricing, underwriting, and renewals.
Founded in Perth in 2007, Nearmap captures vast urban areas in Australia, New Zealand, Canada, and the US multiple times a year using advanced camera systems and processing software. The collaboration aims to leverage historical archives, change analysis, post-catastrophe imagery, and AI capabilities for enhanced disaster intelligence.
Amid the escalating climate crisis and Australia’s susceptibility to natural disasters, Andy Watt, Nearmap’s CEO, emphasized the acquisition’s timeliness. Watt believes the integration of Betterview’s platform and AI into Nearmap’s technology stack will transform the industry, offering insurers the ability to provide more personalized and efficient services, empowering teams with deep-tech disaster intelligence.
Betterview CEO David Lyman anticipates increased access to premium imagery and advanced property intelligence solutions for the insurance sector. The merger promises more efficient insurance solutions development, rapid risk mitigation, improved visualization, and deeper analytics. The acquisition aligns with Nearmap’s global vision to be the source of truth shaping the liveable world, marking a significant milestone in innovation for insurance carriers within the property and casualty space.
