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Verisk integrates with Yembo virtual property estimation AI

Yembo’s technology with Verisk’s Xactimate will help in viewing interior damage in 3D

Verisk, a New Jersey-based multinational data analytics and risk assessment firm, today announced its integration with Yembo, a virtual home survey and inspection provider, according to a press release.

Yembo’s technology can now integrate with Verisk’s Xactimate that helps in viewing interior damage in 3D. These “photo-realistic” models are created from onsite videos captured with smart devices, the release says.

Verisk says that insurance adjusters handling claims on its Xactimate platform can now “accelerate and refine” them by using Yembo’s AI-powered, interactive 3D models and content inventories, claiming these models help with quick estimations of repair costs.

“Many insurers struggle to obtain an accurate picture of interior damage after an event, without the expense of sending someone to inspect the home,” said Siddharth Mohan, co-founder and CEO of Yembo, in the statement. “With the integration of our technology into Xactimate, insurers will be able to easily obtain the information they need to handle more claims confidently from the desk.”

Mike Fulton, president of property estimating solutions at Verisk, said in the statement that the new model will give customers the tools to address business needs like shortening claims cycles, reducing costs and boosting engagement with policy holders.

“Virtual inspections and claims management are playing an increasingly important role in the digital transformation of insurers,” Fulton added. 

Verisk also offers cloud-based solutions for professionals estimating costs for building and repair. 

Earlier in September, Verisk expanded integration of its 360Value replacement cost estimates on Duck Creek’s Content Exchange. The company says this will give homeowner insurers access to Verisk’s localized and updated data on materials and labor on the Duck Creek’s insurance platform platform.

In other recent proptech news, California-based property management company Poplar Homes, acquired three divisions of Chicago-based 33 Realty, including management, maintenance and leasing. Mapped, an AI-backed data platform for commercial real estate IoT, announced Thursday that its data normalization platform Starter Plan is now available for working software development and data science project teams.

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