(Image source: HOVER.)
HOVER (San Francisco), the provider of a comprehensive measurement solution for interior and exterior property claims, and Verisk (Jersey City, N.J.), a global data analytics provider, have announced a deeper collaboration to provide an end-to-end, automated virtual claims solution. In 2022, HOVER and Verisk combined their innovative solutions into a claims experience that enabled HOVER’s highly-detailed, interactive digital model to seamlessly import into Xactimate.
Through the firms’ collaboration, insurance professionals can leverage advanced technology and automation to help reduce the number of manual inputs and processes, resulting in improved estimating accuracy and reduced cycle times from the first notice of loss, according to a statement from Hover. The solution can also be confidently implemented across adjusting workflows, onsite or virtual, and adopted easily by new adjusters, the vendor says.
HOVER describes its offering as having virtualized the claims lifecycle for both interior and exterior claims, allowing carriers to flexibly enable their policyholders to quickly capture photos of their property and property damage directly from Verisk’s Xactimate solution upon first notice of loss, assignment, or anytime thereafter. These photos, which provide additional insights that lead to a quick and efficient settlement, are transformed by HOVER into a full package of measurements and automatically delivered into Xactimate.
“Insurance professionals are contending with a shortage of experienced adjusters, rising costs, and traditional processes that require a number of manual inputs,” comments Dean Riskas, VP, Corporate and Business Development, HOVER. “In an industry where every possible efficiency can help accelerate the restoration of a homeowner’s property back to its original state, the need to automate and virtualize the claims process has never been greater. We’re proud to collaborate with Verisk to build on our current integration and empower carriers in their digital transformation.”
Expediting Cost Estimation and the Entire Claim and Repair Process
Verisk provides computer software solutions for professionals involved in estimating all phases of building and repair. Verisk property estimating, assignment, management, analytical, and collaborative solutions are used by many of the top property insurance companies and repair contractors in the United States and Canada.
“Our team is excited to continue including HOVER among our extendable solutions that seamlessly connect to our products and services that insurers, adjusters, and restorers use every day,” comments Aaron Brunko, SVP, Verisk, Property Estimating Solutions. “With this collaboration, we can help expedite cost estimation and streamline the entire insurance adjustment, claim, and repair process—giving carriers more time to focus on their business, and getting policyholders back in their homes faster than ever.”