Nationwide and Chrp Launch Groundbreaking AI Virtual Home Inspection Program for Homeowners
In a significant step towards modernizing the home insurance experience, Nationwide has joined forces with Chrp, an advanced AI-driven platform, to roll out a virtual home inspection program. This initiative benefits homeowners by utilizing innovative technology to proactively identify potential hazards.
Often, homeowners are unaware of the risks hiding in their properties, such as aging plumbing or electrical systems, which can escalate into serious issues over time. Routine maintenance may not always catch these problems, and that's where the Nationwide-Chrp partnership aims to make a difference.
For policyholders selected for renewal inspections, Nationwide now offers a streamlined option: a guided photo survey conducted using their smartphones. Chrp's technology analyzes these images through its proprietary AI models, processing insights from over 400 known failure points. It highlights issues ranging from corrosion and faulty wiring to fire hazards. Once the virtual walkthrough is complete, homeowners receive a personalized report detailing immediate recommendations for repairs and next steps. Critical issues flagged during the survey are subsequently forwarded to Nationwide's dedicated inspection team for further assessment.
Helen Simonett, Vice President of Personal Lines Property at Nationwide, expressed, "We’re constantly seeking ways to enhance our members' experience. This program not only provides a convenient inspection option but also empowers homeowners to take proactive measures in safeguarding their most valuable asset: their home."
The risks associated with homeownership are vast, and many common insurance claims stem from preventable issues. Recent statistics reveal that 70% of non-catastrophic claims originate from within the home, with water damage being the second most prevalent cause of homeowner claims. Fire-related incidents can be financially devastating, averaging over $88,000 in losses, while plumbing problems often exceed $15,000 in repairs. Notably, electrical malfunctions cause 23,700 residential fires annually.
Zane Koeller, Chrp's Chief Revenue Officer and co-founder, emphasized the need for early detection: "Our data indicates that 30% of homes harbor active plumbing hazards that could lead to significant claims within a four-year timeframe, often due to affordable components like aging supply lines or faulty shut-off valves. Our mission is to help homeowners identify these risks while they’re still manageable, thus sparing them the stress of subsequent damage recovery."
Traditional home inspections often rely on outdated methods and checklists, primarily examining exterior conditions. In contrast, Chrp's platform fuses construction and insurance knowledge within its AI systems, providing a detailed risk assessment for homeowners. Simonett added, "Offering this comprehensive review at no cost allows policyholders to understand the significance of addressing hazards proactively and what they can do to prevent future problems. This self-service approach also provides valuable insights for our agency partners to better assist our shared customers—homeowners."
This virtual inspection service will be accessible across all states where Nationwide offers homeowners policies and will commence for existing policyholders selected for coverage renewal inspections.
Chrp is pioneering an AI-based platform focused on home assessment and loss prevention. By merging advanced technology with expertise in construction and insurance, Chrp aims to uncover potential hazards inside and outside homes before they translate into significant financial losses. Working in partnership with diverse carriers nationwide, Chrp is reshaping how insurers manage risk, improve underwriting processes, and safeguard homes of their policyholders. Learn more at www.chrptech.com.
Based in Columbus, Ohio, Nationwide is a Fortune 100 company that stands as one of the leading diversified financial services and insurance entities in the United States, receiving an A+ rating from Standard & Poor's. The firm caters to diverse insurance needs, offering products that include auto, business, homeowners, farm, life insurance, retirement solutions, and investment services. For additional details, visit www.nationwide.com.
Often, homeowners are unaware of the risks hiding in their properties, such as aging plumbing or electrical systems, which can escalate into serious issues over time. Routine maintenance may not always catch these problems, and that's where the Nationwide-Chrp partnership aims to make a difference.
Simplifying Home Inspections with AI
For policyholders selected for renewal inspections, Nationwide now offers a streamlined option: a guided photo survey conducted using their smartphones. Chrp's technology analyzes these images through its proprietary AI models, processing insights from over 400 known failure points. It highlights issues ranging from corrosion and faulty wiring to fire hazards. Once the virtual walkthrough is complete, homeowners receive a personalized report detailing immediate recommendations for repairs and next steps. Critical issues flagged during the survey are subsequently forwarded to Nationwide's dedicated inspection team for further assessment.
Helen Simonett, Vice President of Personal Lines Property at Nationwide, expressed, "We’re constantly seeking ways to enhance our members' experience. This program not only provides a convenient inspection option but also empowers homeowners to take proactive measures in safeguarding their most valuable asset: their home."
The Importance of Early Detection
The risks associated with homeownership are vast, and many common insurance claims stem from preventable issues. Recent statistics reveal that 70% of non-catastrophic claims originate from within the home, with water damage being the second most prevalent cause of homeowner claims. Fire-related incidents can be financially devastating, averaging over $88,000 in losses, while plumbing problems often exceed $15,000 in repairs. Notably, electrical malfunctions cause 23,700 residential fires annually.
Zane Koeller, Chrp's Chief Revenue Officer and co-founder, emphasized the need for early detection: "Our data indicates that 30% of homes harbor active plumbing hazards that could lead to significant claims within a four-year timeframe, often due to affordable components like aging supply lines or faulty shut-off valves. Our mission is to help homeowners identify these risks while they’re still manageable, thus sparing them the stress of subsequent damage recovery."
A New Era of Home Inspection
Traditional home inspections often rely on outdated methods and checklists, primarily examining exterior conditions. In contrast, Chrp's platform fuses construction and insurance knowledge within its AI systems, providing a detailed risk assessment for homeowners. Simonett added, "Offering this comprehensive review at no cost allows policyholders to understand the significance of addressing hazards proactively and what they can do to prevent future problems. This self-service approach also provides valuable insights for our agency partners to better assist our shared customers—homeowners."
This virtual inspection service will be accessible across all states where Nationwide offers homeowners policies and will commence for existing policyholders selected for coverage renewal inspections.
About Chrp
Chrp is pioneering an AI-based platform focused on home assessment and loss prevention. By merging advanced technology with expertise in construction and insurance, Chrp aims to uncover potential hazards inside and outside homes before they translate into significant financial losses. Working in partnership with diverse carriers nationwide, Chrp is reshaping how insurers manage risk, improve underwriting processes, and safeguard homes of their policyholders. Learn more at www.chrptech.com.
About Nationwide
Based in Columbus, Ohio, Nationwide is a Fortune 100 company that stands as one of the leading diversified financial services and insurance entities in the United States, receiving an A+ rating from Standard & Poor's. The firm caters to diverse insurance needs, offering products that include auto, business, homeowners, farm, life insurance, retirement solutions, and investment services. For additional details, visit www.nationwide.com.
Topics Consumer Technology）
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