New Understory Tie-Up Aims to Help Insurers Reduce Claim Costs

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direction that storm is moving and then proactively message policyholders, to mitigate loss? [An insurer might say], ‘Put your car in the garage, bring patio furniture inside, protect your assets in the next 15 or 20 minutes, because hail is on the way.’”

Moe says some leaders at his company are currently attending a conference in Munich, Germany organized by Digital Insurance Agenda, as Understory considers expanding internationally.

In addition to insurance, Understory’s technology has applications in agriculture, providing hyperlocal weather data that helps farmers manage their fields. Monsanto Growth Ventures, the investing arm of agrochemical and seed giant Monsanto (NYSE: MON) co-led Understory’s Series A funding round last year.

“We’re actively working in agriculture right now,” Moe says. “We’re deploying in Argentina as we speak, and also looking at deploying to two countries in western Europe for agriculture in the next several months.”

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