CoreLogic 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.