Property professionals can now rapidly generate digital 3D diagrams of loss sites directly in Verisk’s Xactimate® solution with Matterport TruePlan™ 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.”