The collaboration will increase customer satisfaction in the property underwriting process and allow carriers to better manage inspection expenditures
CoreLogic® (NYSE: CLGX), a leading global property analytics solution provider, today announced the integration of HOVER property measurement and 3D technology into the CoreLogic UnderwritingCenter™ platform for insurance clients. The integration of HOVER provides carriers an opportunity to better 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.
“The accurate sketch that HOVER provides to homeowners serves as a single source of truth about a home’s vital data for all parties – from the homeowners themselves to the insurance carriers and inspection companies,” said Kevin Reilley, Executive Vice President at HOVER. “This 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 solution, the integration eliminates the need to hand-measure the property and provides a more complete property view. It also allows insurers to engage the homeowner as a part of the property insurance process, offering time savings and an educational opportunity that enhances the customer experience.
“With HOVER automatically integrated to the CoreLogic UnderwritingCenter™, insurers can access detailed property information without disrupting workflow or changing existing underwriting guidelines,” said Rosanna Hancock, senior leader of client delivery, CoreLogic Insurance and Spatial Solutions. “We are pleased to offer this advanced technology to our insurance customers to help them make more accurate, timely decisions when assessing a property’s current condition and making policy decisions.”
A market leader in underwriting solutions to the property and casualty industry, CoreLogic continues to improve its solutions for structural risk assessment and valuations. For more information, please visit the CoreLogic UnderwritingCenter page.
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic Underwriting Center and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
HOVER transforms smartphone photos of any property into an accurate, interactive 3D model, giving homeowners the power to unlock the true potential of their largest economic asset. Thousands of exterior contractors are using HOVER to save time and money on every project, establish instant credibility and close more business. 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