Matterport Launches TruePlan for Xactimate to Accelerate Property Loss Estimation
Matterport Launches TruePlan for Xactimate to Accelerate Property Loss Estimation
(Image source: Matterport.)
Matterport (Sunnyvale, Calif.), a provider of spatial data solutions, has made its TruePlan for Xactimate solution available to its customers. TruePlan eliminates the need for restoration contractors to manually sketch properties, accelerating the estimation process by four times and shortening the insurance claims cycle, according to the vendor.
TruePlan generates accurate sketches of any space in one click, right from a Matterport 3D model already scanned by customers to visually document damage, a Matterport statement says. The vendor cites a recent report from ATI Restoration affirming that a Matterport 3D scan combined with TruePlan helped the company realize five-fold productivity gains in sketch time, increase accuracy of sketches by 33 percent and estimate losses four times faster.
Indy Sen, VP, Product Marketing, Matterport.
“Matterport has quickly established itself as a leading platform for insurance and restoration. We’re taking another big step into these industries with TruePlan for Xactimate,” comments Indy Sen, VP, Product Marketing, Matterport. “We’re not only helping companies save time and money estimating damage, but accelerating the time it takes for claims to be processed which ultimately helps people get back into their restored homes or offices faster.”
Xactimate software by Verisk (Jersey City, N.J.) is widely used by insurance companies and their adjusters to calculate building damage, estimate repair and rebuilding costs, generate property loss estimates and put together claim settlement offers. The traditional method of documenting a site is time-consuming and costly, with estimators manually sketching the property with graph paper, a tape measure and digital camera. In addition to the hours it takes to produce a sketch, most companies average three days after the site visit to complete the estimate.
“The days of paper and pencil or Xactimate sketching on site are over,” Robert Harrell, Director of Operational Improvements and Technology, ATI Restoration. “The combination of Matterport 3D scans and TruePlan for Xactimate efficiently produces the accurate, strategic data we need to estimate losses about four times faster.”
Eliminating the Need for Manually Sketching
Matterport reports that many restoration companies already scan properties using its solution and use the 3D model, or digital twin as visual documentation in lieu of photos and video. With the addition of TruePlan, customers can now generate an Xactimate-compatible file (.SKX) from the same scan in just one click, the vendor says. “Within 48 hours, a complete and accurate as-built sketch of the property is delivered and can immediately be uploaded into Xactimate,” says the Matterport statement
“Not only does Matterport TruePlan eliminate the need for, and cost of, manually sketching, it helps us optimize our staff, especially when catastrophic events occur,” comments Ted Foster, Director of Training, BELFOR. “TruePlan allows our team to scale quickly and opens us up to larger and higher volume claims.”
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