Preservation and Recovery: How TurnKey 3D Utilises Matterport Technology to Streamline the Insurance Claims Process

In the aftermath of an unforeseen disaster, quick and efficient preservation and recovery of assets become paramount. Insurance claims, essential for financial recovery, often involve cumbersome processes that can delay relief. At TurnKey 3D, we leverage Matterport technology, along with XactContents by Verisk, to streamline these processes, ensuring faster, more accurate insurance claims and facilitating a smoother path to recovery.

Accurate Documentation for Claims

One of the most significant advantages of using Matterport technology is the creation of precise digital twins of properties. These 3D models serve as comprehensive visual records that are indispensable during the insurance claims process.

1. Detailed Pre-Loss Documentation: By scanning properties regularly, we maintain an up-to-date digital record of their condition before any damage occurs. This pre-loss documentation is critical for insurance purposes, as it provides a clear, indisputable reference point, helping to establish the state of the property prior to the incident.

2. Post-Loss Assessments: In the event of damage, our Matterport scans allow for quick and thorough post-loss documentation. These 3D models capture every detail of the damage, from structural issues to damaged contents, providing a complete picture for insurance adjusters.

3. Interactive and Accessible Records: The digital twins we create are interactive and can be accessed by all stakeholders, including insurance adjusters, claims processors, and property owners. This accessibility ensures that everyone has the necessary information at their fingertips, facilitating more efficient and transparent claims processing.

Utilizing XactContents for Comprehensive Inventories

In addition to Matterport technology, we utilise XactContents by Verisk to enhance the insurance claims process further.

1. Detailed Inventory Management: XactContents allows us to create detailed inventories of personal property and contents within a space. By integrating these inventories with our Matterport digital twins, we ensure that every item is documented accurately, providing a comprehensive record for insurance purposes.

2. Valuation and Reporting: XactContents helps in accurately valuing and reporting the contents within a property. This tool is essential for determining the value of lost or damaged items, ensuring that insurance claims are processed with precision and speed.

3. Seamless Integration: The seamless integration of XactContents with Matterport’s 3D models allows for efficient data sharing and collaboration. This integration ensures that all inventory data is aligned with the visual and spatial information provided by the digital twins, creating a holistic view of the property’s contents.

Streamlining the Claims Process

Matterport technology and XactContents not only aid in documentation but also significantly streamline the entire insurance claims process, from initial assessment to final settlement.

1. Automated Reports and Measurements: Matterport’s platform can automatically generate detailed reports and measurements from the 3D scans. These reports include exact dimensions and high-resolution images that can be directly integrated into claims documentation, reducing the time spent on manual measurements and photography.

2. TruePlan Integration: For an even more streamlined process, we use Matterport TruePlan to create Xactimate-compatible SKX files. These files can be imported directly into Xactimate, the leading software for insurance estimates, eliminating the need for manual data entry and speeding up the claims estimation process.

3. Enhanced Collaboration: The interactive nature of Matterport’s digital twins, combined with the detailed inventories from XactContents, promotes better collaboration between all parties involved in the claims process. Insurance adjusters can virtually tour the property, discuss specific areas of concern with property owners, and make informed decisions without the need for multiple on-site visits.

Real-World Applications

Consider a scenario where a historic building suffers fire damage. Using Matterport technology, we can quickly scan the affected areas, creating a detailed 3D model that captures the extent of the damage. This model, combined with a comprehensive inventory from XactContents, can be shared with the insurance company, providing them with a clear and accurate representation of the loss. The automated reports and TruePlan integration ensure that the claims process is expedited, allowing for faster settlements and quicker recovery for the property owners.

Facilitating Recovery and Restoration

Beyond the claims process, Matterport technology and XactContents play a vital role in the recovery and restoration phases.

1. Restoration Planning: The detailed 3D models and inventories provide a clear reference for restoration professionals, helping them plan the restoration work accurately. They can identify the materials needed, estimate costs, and visualize the end result before starting the actual work.

2. Progress Monitoring: Throughout the restoration process, regular scans can be conducted to monitor progress. These scans ensure that the work is proceeding according to plan and that any deviations are promptly addressed.

3. Stakeholder Communication: By providing a visual and interactive record of the property’s condition, contents, and the restoration progress, Matterport scans and XactContents facilitate better communication with all stakeholders, ensuring everyone is aligned and informed.

Conclusion

At TurnKey 3D, we are dedicated to using Matterport technology and XactContents to enhance preservation and recovery efforts. By providing accurate, detailed, and accessible digital records, we streamline the insurance claims process, facilitate efficient restoration planning, and ensure quick recovery for property owners. Our approach ensures that local governments and property owners can navigate the challenges of asset preservation and recovery with greater ease and confidence.

For more information on how TurnKey 3D can assist with your preservation and recovery needs, contact us today.