Navigating the world of insurance claims following a loss event can be a stressful nightmare for commercial property owners. Fortunately, advances in technology have revolutionized the claims process, allowing the policyholder to restore their property faster than ever. One such technology is Matterport. This 3-D scanning technology provides comprehensive loss documentation that allows property owners, insurance adjusters, and other stakeholders to inspect property loss and damage at any time, from anywhere.
Mooring leans on this innovative technology to help customers facilitate insurance claims and recover their property quickly, ultimately allowing them to get back to business as usual. But what exactly is Matterport and how does it work?
MATTERPORT 101
Simply put, Matterport is the gold standard for 3D space capture. Through artificial intelligence (Cortex AI), Matterport allows users to create a digital twin (a digital copy of a real-life space). Artificial intelligence and machine learning technologies create dimensionally accurate digital twins that can be updated as quickly as a real-world change is made to a space. The result is a completely interactive three-dimensional model of a space captured through Matterport.
USING MATTERPORT’S 3-D CAPTURE FOR INSURANCE AND RESTORATION
Matterport’s digital twin technology isn’t only a valuable tool for insurance companies and claims adjusters, but also restoration companies and property owners. Through the 3-D captures, accurate, transparent, and fair documentation and valuations are available at the touch of a button, providing detailed information quickly—all saving time, money, and getting claims closed faster than ever before.
ADVANTAGES OF MATTERPORT FOR INSURANCE AND RESTORATION
1. Matterport documents damage thoroughly and accurately.
Once property damage is recorded through a Matterport scan, a collection of dollhouse views, an overhead floorplan view, and instant measurements of damaged spaces can be accessed with only a few clicks. Anyone with access to the file can explore the entire 3-D space to assess the extent of damages without ever having to step foot in the building. Policy and claims notes can be notated directly in the 3-D model, too.
2. Matterport reduces disputes over the scope of loss.
By being able to easily compare Matterport renderings of a building from before and after a water, fire, or catastrophic event, it’s much easier for policyholders to prove the scope of damage and loss. Physical inspections are often not needed, and the documentation is far more streamlined than outdated methods that require piecing together hundreds of photographs and videos to determine the scope of loss.
3. Matterport expedites claim approvals from insurance carriers.
Matterport’s ability to capture through, accurate documentation allows claims to be approved and cases to be closed faster than ever. If building owners and property managers capture everything in its current state—before a claim event—they’ll be able to easily prove the damage that occurred and hasten the approval process. This then allows repairs to be made quickly, allowing business to resume as usual.
4. Matterport accelerates settlements.
Matterport provides court-admissible documentation, which helps ensure a fair settlement if it ends up in litigation. In most cases, its unsurpassed documentation accuracy leads to higher-quality assessments that don’t require outsourcing inspections. Because claims adjusters can assess damage remotely, travel time to and from sites is reduced or eliminated. This increase in accuracy shortens the claim cycle because adjusters can work faster to review and navigate losses remotely—with the exact dimensions of every interior and exterior aspect of a property.
5. Matterport helps customers restore properties to pre-loss condition more quickly.
Because damage and losses can be assessed so much faster by touring digital 3D versions of a property, claims are settled faster, and restoration work can often begin within days rather than weeks or months.
Lean on Mooring to take advantage of this revolutionary technology.? Eliminate hundreds of photographs, measurements, and written statements by engaging Mooring’s Matterport scanning services. Our expert technicians will map your space in a matter of hours, setting you up for a successful restoration process.