#United States #Salt Lake City #Insurance Claims #Nearmap #Measurement Tools

Nearmap Introduces Cutting-Edge Roof and Exterior Measurement Tools

Nearmap, a prominent provider of property and location intelligence for insurers, has unveiled two groundbreaking tools geared towards transforming the insurance claims process. The new Roof Measurements and Exterior Measurements solutions are designed to deliver precise measurements of roof geometry and exterior features, such as windows and doors, enhancing the claims experience for both insurers and policyholders.

The Challenge of Traditional Insurance Claims Processes

Historically, the process of handling insurance claims has been reliant on manual inspections, often leading to inefficiencies and inaccuracies. Insurers have had to depend on outdated tools for assessing the dimensions of roofs and exteriors, making the entire process slow and prone to errors. This traditional approach increases the risk of mismeasurement, which not only affects payouts but can also lead to greater losses and dissatisfaction among policyholders.

Moreover, as the complexity of properties increases, so does the potential for miscalculations that could severely impact the efficiency of claims settlements. The new tools from Nearmap aim to address these challenges head-on, ensuring that insurers can provide faster and more accurate claim resolutions.

Revolutionizing Measurement with 3D Technology

Leveraging Nearmap’s proprietary 3D mesh technology, the Roof and Exterior Measurement tools offer insurers the ability to generate quick and precise measurements for both residential and commercial properties. This innovation allows insurance professionals to make better-informed decisions across a range of claim scenarios.

The ability to operate these advanced tools remotely empowers adjusters dealing with everyday property claims as well as teams addressing catastrophic events. By reducing the reliance on manual and often invasive inspections, the Roof and Exterior Measurement solutions streamline the claims handling process significantly.

Key Benefits of Nearmap's Solutions

The Roof and Exterior Measurement tools offer numerous benefits to insurance firms, including:

• - Faster Claim Resolutions: The innovative solutions provide data that can be accessed within minutes or hours, rather than taking days or weeks. This prompt availability ensures that policyholders receive the assistance they require without unnecessary delays.
• - Reduced Loss Adjustment Expenses: By delivering precise measurements upfront, insurers can minimize or even eliminate the need for costly on-site inspections.
• - Improved Accuracy of Claims and Payouts: The accuracy of estimates improves with high-resolution 3D measurements that boast an estimated tolerance of +/- 5%. This enhances the reliability of claims payouts, ensuring that policyholders receive what they are entitled to based on accurate assessments.

David Tobias, Chief Product Officer at Nearmap, emphasizes the importance of speed and reliability in the insurance sector, stating, “Our customers need fast, reliable, accurate measurements no matter the situation—whether it’s a hail claim or a major hurricane response. With 3D-derived exterior measurements, insurers have a faster, safer, and more scalable way to settle claims with confidence.”

Integrating with Industry-Leading Tools

Nearmap’s measurement tools are seamlessly integrated with Verisk's XactAnalysis and Xactimate, which are the leading platforms in the insurance industry for analyzing claims and estimating reconstruction costs. As claims progress through their lifecycle, professionals can continually monitor data using XactAnalysis, helping to mitigate errors and measure performance against industry benchmarks. Additionally, the direct import feature into Xactimate expedites the reconstruction cost estimate process, allowing for quicker claim settlements.

David Obert, Chief Product Officer for Verisk Property Estimating Solutions, expresses enthusiasm about the collaboration, stating, “Verisk is proud to welcome Nearmap to our connected claims ecosystem, which continues to grow and innovate, helping users to do their work with greater ease and efficiency.”

Conclusion

As the insurance industry faces increasing complexities fueled by extreme weather and evolving property challenges, Nearmap’s innovative Roof and Exterior Measurement solutions pave the way for smarter, more efficient claims processing. By enhancing accuracy, reducing costs, and significantly expediting resolution times, these tools represent a critical advancement in the landscape of property insurance. For more insights, visit Nearmap's official site.