Strategic relationship supports Openly’s technology-driven insurance processes and future growth plans
CHICAGO (Nov. 08, 2021) – Arturo, an AI-powered platform that derives property insights and predictive analytics from aerial and satellite imagery, unveiled a strategic multi-year deal with Openly, the premium homeowners insurance platform. Harnessing Arturo’s insights, Openly will generate greater efficiencies across its point of quote, underwriting and claims processes for independent agents, enabling the company to continue scaling its growth nationwide.
Founded in 2017, Openly uses next-generation data and technology to offer straightforward, customer-friendly home insurance policies. With the goal of providing comprehensive coverage, top-notch service, and a modern insurance experience for customers, Openly utilizes automated underwriting processes at time of quote, leveraging a diverse range of datasets to identify property conditions and risk profiles.
Arturo, a deep learning spin-out from American Family Insurance, delivers highly accurate physical property characteristic data and predictive analysis for residential and commercial properties. The sophisticated technology gleans structured data from aerial, satellite and stratospheric imagery, offering valuable property information to help manage, diversify and respond to risk for clients in the insurance sector and beyond.
Openly, which currently operates in 14 states and works with more than 2,000 independent insurance agencies, plans to use Arturo and its suite of solutions to enhance its underwriting experience by leveraging Arturo’s unique property insights and analytics to reduce costs and claims processing time, thereby eliminating manual inefficiencies and reducing the need for in-person inspections. As a result of this new engagement, agents will be able to focus on priority tasks such as providing comprehensive coverage for policyholders and fostering a unique customer experience.
For Arturo and Openly, this represents an expansion to an existing relationship that has supported the growth of both companies at the nexus of insurance and technology. Both companies, graduates of the TechStars technology accelerators program, immediately recognized their potential synergies in 2017. Their business partnership has since expanded into this new multi-year agreement, providing efficiencies for Openly to expand its usage of Arturo insights to claims and other areas.
“When I first met the Arturo team several years ago, it was clear they’d be a natural partner, given our shared mission of utilizing data to produce efficiencies within insurance,” said Matt Wielbut, co-founder and CTO of Openly. ”Other larger scale data providers tend to focus solely on records data, but Arturo’s use of aerial imagery provides a more robust view of property risk, which gives our agents much more accurate information. As we continue to expand nationwide, the need for rich property image analytics to support our underwriting, quotes and other processes has never been greater.”
“As insurance coverage needs continue to evolve and become more comprehensive, artificial intelligence, multi-source imagery, and configurable APIs have become vital to developing efficient and cost-effective workflows,” said John-Isaac “jC” Clark, CEO of Arturo. “Openly is among the companies at the forefront of this new reality, creating a smoother insurance process for agents and homeowners alike. As the company continues its national expansion, we are thrilled to be a part of their incredible growth story.”
Arturo, a deep learning spin-out from American Family Insurance, is relentlessly committed to delivering highly accurate physical property characteristic data and predictive analysis for residential and commercial properties for use in the property and casualty (P&C) insurance, reinsurance, lending and securities markets.
Leveraging the latest satellite, aerial and ground-level imagery, as well as unique proprietary data sources, Arturo’s deep learning models provide differentiated property data unparalleled by any other provider – often in seconds. Discover more at www.arturo.ai or connect with Arturo on Twitter.
Openly is a Boston-based premium homeowners insurance company. Its centralized platform offers comprehensive coverage using advanced pricing models. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America. For more information, visit Openly.com or linkedin.com/openlyinc.