CoreLogic, a global property analytics provider, has integrated HOVER property measurement and 3D technology into the CoreLogic UnderwritingCenter platform for insurance clients. The integration of HOVER provides carriers a way to manage inspection expenditures while allowing policyholders to digitally participate in securing homeowner coverage on their properties through HOVER’s self-service app.
With the HOVER app, users are able to take smartphone images of a property and automatically receive accurate measurements, including the total living area down to the inch, as well as an AI-derived sketch of their home.
According to Kevin Reilley, executive vice president at HOVER, the integration into the underwriting workflow helps determine a precise replacement cost calculation and additional insights to risk factors, while also providing transparency between homeowners and their insurance carriers.
As a workflow option, the integration is designed to eliminate the need to hand-measure the property and provide a more complete property view. It also allows insurers to engage the homeowner as a part of the property insurance process.
HOVER transforms smartphone photos of any property into an interactive 3D model. HOVER’s insurance industry customers use the up-to-date measurements to reduce claim adjusting costs, decrease cycle times, and improve the overall customer experience. HOVER is backed by Google Ventures, Menlo Ventures, Standard Industries and The Home Depot.
Topics Underwriting Property
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