HOVER and Verisk Collaborate to Enable a Faster and More Efficient Claims Solution

Carriers can now streamline and automate their claims resolution process, resulting in improved cycle times, estimating accuracy, and customer satisfaction

SAN FRANCISCO and JERSEY CITY, N.J., Feb. 7, 2023 /PRNewswire/ -- HOVER, the only complete measurement solution for interior and exterior property claims, and Verisk (Nasdaq:VRSK), a leading global data analytics provider, today announced a deeper collaboration to provide an end-to-end, automated virtual claims solution.

Through this collaboration, insurance professionals can leverage advanced technology and automation to help reduce the number of manual inputs and processes, resulting in improved estimating accuracy and reduced cycle times from the first notice of loss. The solution can also be confidently implemented across adjusting workflows, onsite or virtual, and adopted easily by new adjusters.

HOVER has virtualized the claims lifecycle for both interior and exterior claims, allowing carriers to flexibly enable their policyholders to quickly capture photos of their property and property damage directly from Verisk's Xactimate^® solution upon first notice of loss, assignment, or anytime thereafter. These photos, which provide additional insights that lead to a quick and efficient settlement, are transformed by HOVER into a full package of measurements and automatically delivered into Xactimate.

"Insurance professionals are contending with a shortage of experienced adjusters, rising costs, and traditional processes that require a number of manual inputs," said Dean Riskas, Vice President of Corporate and Business Development at HOVER. "In an industry where every possible efficiency can help accelerate the restoration of a homeowner's property back to its original state, the need to automate and virtualize the claims process has never been greater. We're proud to collaborate with Verisk to build on our current integration and empower carriers in their digital transformation."

Verisk provides computer software solutions for professionals involved in estimating all phases of building and repair. Thanks to a longstanding commitment to investment in research and development, Verisk property estimating, assignment, management, analytical, and collaborative solutions are used by many of the top property insurance companies and repair contractors in the United States and Canada.

"Our team is excited to continue including HOVER among our extendable solutions that seamlessly connect to our products and services that insurers, adjusters, and restorers use every day," said Aaron Brunko, Senior Vice President at Verisk, Property Estimating Solutions. "With this collaboration, we can help expedite cost estimation and streamline the entire insurance adjustment, claim, and repair process— giving carriers more time to focus on their business, and getting policyholders back in their homes faster than ever."

In 2022, HOVER and Verisk combined their innovative solutions into a claims experience that enabled HOVER's highly-detailed, interactive digital model to seamlessly import into Xactimate.

Learn more about the integration between HOVER and Xactimate and XactAnalysis on February 7-8 at Verisk Elevate 2023 in Salt Lake City, Utah. For more information and to register, visit VeriskElevate.com.

HOVER is developing the most comprehensive and usable data set of physical property to deliver a simpler and more transparent home improvement experience. Used by contractors, insurance adjusters and homeowners alike, HOVER drives efficiencies with a mobile app that measures, designs, and estimates costs all in one place; smartphone photos transform into beautifully rendered, fully-measured 3D models of any home. Known for industry-leading measurements, 3D visualizations, and precise project estimates, HOVER offers contractors easy-to-use tools and customizable automation for any exterior trade, job type or team – all in one place. For more information, visit hover.to.

Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global issues including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. 

Media Contacts
Noelie LeBlanc (for HOVER)
805-276-8340
Noelie.LeBlanc@hover.to

David Novich (for Verisk)
201-469-2437
David.Novich@verisk.com

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SOURCE HOVER