Proptech company Planitar has established a strategic partnership with data analytics and technology provider Verisk to expedite the claims process in the insurance sector.

Under the deal, Planitar’s iGUIDE Instant Sketch solution will be incorporated with Verisk’s Xactimate platform to facilitate insurance adjusters precisely process claims.

iGUIDE can substantially enhance the precision and speed at which a complete property loss documentation package is made. 

The solution completely automates the floor plan sketch generation, which is the key initial step in the claims and restoration process. 

iGUIDE also merges optical imaging, laser (Lidar) dimensions and deep learning artificial intelligence (AI) technology to offer a tool that can completely document an interior loss rapidly.

This technology can automatically create room(s) or entire floorplans and translate those directly to a sketch within the Xactimate software platform in minutes.

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By GlobalData

This approach aids in saving hours spent carrying out the works manually while AI-generated floorplans enhance the precision and consistency of claim sketches utilised to generate estimates of replacement materials.

Furthermore, iGUIDE Real-Time Tagging and the iGUIDE 3D virtual walkthrough can be used by insurance and restoration experts to categorise and enhance the evidence report package they provide to carriers.

Planitar CEO Alexander Likholyot said: “We are excited to announce our collaboration with Verisk to introduce iGUIDE Instant Sketch to the insurance industry. 

“By combining our comprehensive property documentation solution with Verisk’s data analytics expertise, we’re offering insurance adjusters a seamless and high-speed workflow that reduces time spent on data collection and sketching by 90% or more.”

Verisk’s health risk rating tool and ratings engine were recently chosen by AXA Life & Health Reinsurance Solutions to offer automated health insurance underwriting solutions for insurance partners in Egypt.