Verisk and HOVER are working together to help insurers, adjusters, restorers, and policyholders streamline claims.
The two companies are teaming up to combine Verisk’s Xactimate with technology from HOVER that can take smartphone photographs and turns them into a ‘digital twin with valuable 3D data’.
Property professionals and policyholders can use the HOVER app on their mobile device to take a set of photos of a loss site. HOVER then transforms those photos into an interactive 3D model with precise measurements of the exterior structure.
With the new integration, HOVER’s highly-detailed, interactive digital model now automatically imports into Xactimate. This allows insurers and home improvement professionals to quickly estimate repair costs.
Additionally, adjusters will have the capability to resolve a claim remotely when policyholders are given access to HOVER directly.
Verisk, meanwhile, provides computer software solutions for professionals involved in estimating all phases of building and repair, such as the Xactimate estimating tool.
A.J. Altman, founder and CEO of HOVER, said: “Our team at HOVER is excited about our collaboration with Verisk because it addresses the traditional challenges associated with homeownership and supports our mission of helping people improve their homes with the world’s best 3D property data. It is a very intense and stressful time when a homeowner has experienced a catastrophic event to their home. Now, we can expedite the entire insurance claim and repair process and get people back in their homes as quickly as possible.”
This is not the first link-up between Verisk and an external company in recent weeks. In October, it announced that it was acquiring ACTINEO and investing in the London company HUG HUB.
