SAN FRANCISCO, Calif. AND JERSEY CITY, N.J., Feb. 2, 2022 — Insurance carriers, adjusters, restorers and policyholders will be able to streamline claims estimating through the integration between Verisk’s claims-handling solutions,Xactimate® and XactAnalysis®, and HOVER, the technology company that transforms smartphone photos of any property into a digital twin with valuable 3D data for insurance partners.
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 will automatically import into Xactimate and XactAnalysis. This will allow 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 direct access to HOVER.
"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,” says A.J. Altman, HOVER’s founder and CEO. “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.”
Verisk provides computer software solutions for professionals involved in estimating all phases of building and repair, such as the Xactimate estimating tool and the XactAnalysis claims assignment, management and analytical network. Thanks to a longstanding commitment to investment in research and development, 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.
“We welcome the opportunity to integrate with HOVER to offer property professionals flexible ways to work faster and more effectively,” said Mike Fulton, Verisk’s president of property estimating solutions. “Verisk’s suite of open, extendable solutions seamlessly connects to many of the products and services that insurers, adjusters and restorers use every day. With this integration, we’re offering even more flexibility for our mutual customers to scope jobs quickly, reliably and safely.”
Learn more about the integration between HOVER and Xactimate and XactAnalysis on February 15-16 at Verisk Elevate 2022 in Salt Lake City, Utah. For more information and to register for this hybrid virtual and in-person conference, visit VeriskElevate.com.
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.
HOVER is developing the most accurate and usable data set of physical property to deliver a simpler and more transparent home improvement experience. Used by contractors, insurance adjusters, architects and homeowners alike, HOVER drives efficiencies with a mobile app that measures, designs, and estimates costs all in one place; smartphone photos transform into beautifully rendered, fully-measured 3D models of any home. For more information, visit hover.to.