New Verisk and Matterport Integration Accelerates Sketching Process for Insurance Claims
LEHI, Utah, and SUNNYVALE, Calif. — Property professionals can now rapidly generate digital 3D diagrams of loss sites directly in Verisk’s Xactimate® solution with Matterport TruePlanTM for XactimateⓇ, a new integration with Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world. Xactimate is a powerful claims-estimating solution developed by Verisk’s Xactware business. Verisk (Nasdaq: VRSK) is a leading global provider of predictive analytics and decision-support solutions.
Matterport TruePlan for Xactimate converts 3D models into editable digital diagrams, eliminating the need for property professionals to manually sketch loss sites. In June, TruePlan won the 2021 Contractor’s Choice Award for Product of the Year from the Restoration Industry Association.
With this new integration between the Matterport platform and Xactimate, insurance, adjuster, and restoration organizations can order a TruePlan of a Matterport 3D model with a single click in Xactimate. Within 48 hours, a complete as-built sketch of the structure is ready to be downloaded into Xactimate.
“We’re continuously looking for ways to make it easier for our customers, whether insurers or contractors, to increase their productivity and deliver superior experiences to their customers. Flexible integrations like our work with Matterport is just one way we bring that commitment to life,” Xactware President Mike Fulton said. “Scoping a claim quickly and precisely is crucial to succeeding in the ever-evolving insurance landscape, and this integration will help property professionals work faster and more effectively.”
In addition to eliminating that time-consuming step, the integration enables professionals to:
- Expedite estimation workflows
- Shorten cycle times
- Reduce operating costs
- Improve customer satisfaction ratings
“We’ve been collaborating with Verisk for a long time to bring this integration to the restoration and insurance industries, and are excited to offer it to our customers,” said Conway Chen, Matterport’s vice president of business development and alliances. “Matterport TruePlan for Xactimate empowers contractors and adjustors working for insurance carriers to automate the sketching process. By eliminating this time-consuming and manual process, they can drastically reduce cycle times and friction within the claims settlement process. Our Xactimate-compatible sketch files are consistently accurate, allowing property insurance professionals to focus on what’s most important: taking care of policyholders when they are affected by the loss of their home or business.”
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make spaces more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
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Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
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