LOUISVILLE, KY, UNITED STATES, October 14, 2024 /EINPresswire.com/ — Source7, a pioneer in real-time data on household appliances and major mechanicals, today announced a strategic partnership with Plnar, an AI platform powered by smartphone imagery that digitizes every step in the property insurance lifecycle. This collaboration aims to revolutionize the property insurance industry by providing insurers with innovative insights into property interiors. It accelerates claims processing, optimizes subrogation recoveries and deductible returns for those who have suffered an interior water or fire loss, and strengthens loss prevention efforts.
Plnar’s innovative software and AI leverage smartphone photos to automatically generate accurate 3D models of interior spaces and measure property exteriors, identifying materials and contents with remarkable precision. This technology enables highly accurate identification of damage to build property estimates, reducing costs, saving time, while improving the customer experience.
Plnar’s platform allows carriers to standardize their smartphone imagery strategy during every step in the policy lifecycle. By integrating Plnar’s technology with Source7’s expertise in appliance and mechanical data, insurers can now:
– Uniquely identify, assess, and proactively address interior fire and water risk more accurately: Gain a comprehensive understanding of interior property characteristics, enabling more precise risk assessment and pricing.
– Reduce claims costs: Expedite claims processing through rapid damage assessment and identification of potential subrogation opportunities for both virtual and field claims.
– Improve customer satisfaction: Enhance the claims experience for policyholders by providing faster, more efficient service, and optimizing the number of deductibles our industry can return to insureds who have suffered a loss they didn’t deserve.
In an era of rising inflation and catastrophic losses, insurers are seeking innovative solutions to improve their bottom lines. By prioritizing loss prevention and subrogation, insurers can recover losses, prevent future claims, and enhance their competitive advantage by returning more deductibles to their customers.
“Plnar’s technology is a game-changer for the property insurance industry,” said Brian Webb, President at Source7. “By combining our proprietary risk and performance data covering over 95% of major household appliances and products installed nationwide, with Plnar’s advanced inspection and 3D modeling capabilities, we are providing insurers with the tools they need to make more informed decisions and deliver exceptional customer service.”
“We are excited to partner with Source7 to bring our Smartphone Imagery AI Platform and Source7’s technology together for the insurance market,” said Andy Greff, CEO of Plnar. “Together, we can help insurers streamline their operations, improve their risk management practices, and ultimately provide better value to their shareholders and customers.”
Arlene Kim
Source7
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