New Verisk and Matterport Integration Accelerates Sketching Process for Insurance Claims
Matterport TruePlan for Xactimate accelerates insurance claims by generating 3-D sketches in one click and streamlining a formerly manual process
LEHI, Utah and SUNNYVALE, Calif., Aug. 13, 2021 (GLOBE NEWSWIRE) — 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.”
To learn more about this new integration, visit Verisk.com or Matterport.com.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make spaces more valuable and accessible. Millions of buildings in more than 150 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2021 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
About Verisk
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.
Matterport Media Contact:
Naomi Little
Global Communications Manager
press@matterport.com
+44 203 874 6664
Matterport Investor Contact:
Soohwan Kim, CFA
VP, Investor Relations
ir@matterport.com
For Verisk:
Michelle Pantina
551-500-7327
michelle.pantina@verisk.com
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport’s integration with Verisk’s Xactimate solution, Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.
