At HOVER, we believe improving how the insured engage throughout their policyholder journey is key to resolving many of the industry challenges facing carriers and adjusters today.
These challenges include labor shortages that can increase the time it takes to settle a claim (and decrease customer satisfaction) to fragmented workflows that can reduce business predictability and operating efficiency. By involving policyholders and leveraging technology like Hover and CoreLogic, the insurance industry can deliver innovative and consumer-quality solutions and break the information silos across underwriting and claims.
Policyholder Involvement Can Drive Change
When insurers engage their policyholders by using innovative technology like Hover, they can unlock key benefits:
- Accelerated Approvals and Claims Settlement
Each time a policyholder is invited to complete a HOVER job as part of the claims process, they can potentially eliminate an unnecessary onsite visit, – and speed up their claim. The reason for this is that each HOVER job includes a critical package of information that is robust enough to settle many claims directly from the desk. This package includes measurements, quantities, floor plans, an exterior 3D model, damage photos, and close-up imagery of inside and outside of the property.
- Cost Reductions and Other Efficiencies
Engaging policyholders in the data collection process at First Notice of LOS (FNOL) can lead to better triaging of a claim before costly resources are deployed. In other words, when a carrier or adjusting firm has access to HOVER information early on, more cost-effective decisions can be made about the right resources to deploy. For example, some claims can be settled directly from the desk without the need for an onsite adjuster. Other claims may only need a quick verification of a material component or measurement from an inspection team. Recognizing early on when lower-cost resources can be deployed can lead to significant cost and time savings.
An Easy Solution for Homeowners
For insurers worried that homeowners will not use HOVER, many have shown a willingness to use HOVER to complete a capture during the claim process. In fact, over 500,000 homeowners have successfully performed a home capture with HOVER, and the number continues to grow. We believe homeowners engage with HOVER because they understand it can speed up their recovery. This is supported by a J.D. Powers study that found that customers who engaged directly with a digital solution in the claims process started repairs 9 days sooner than those who did not.
More than Measurements
HOVER offers much more than a simple measurement solution for on-site inspections. We provide value across the entire insurance lifecycle. From new policy underwriting, through claims, mitigation, and restoration, Hover has become a trusted source of truth across the policy & claim lifecycle from start to finish.
HOVER recently launched two new solutions for our customers who use CoreLogic solutions:
- Interior Solution Launch:
With our Interior Solution, HOVER is the first company in the market to deliver a single, end-to-end solution that can be used by policyholders to speed up the claims process for any claim involving damage to interiors and exterior roofs and elevations.
HOVER’s interior product makes it easy for policyholders to submit a broad range of interior damage claims, including cases where a structure is missing or damaged. Ease-of-use features include quick checklists to support preparing the environment for capture, auto-capture technology that eliminates the need to manually take each photo, and room-by-room technology that guides the user as they navigate their home.
- Seamless Integration with CoreLogic:
The HOVER solution suite is one of the first to integrate with Corelogic's Partner API. Now, carriers and adjusting firms who use CoreLogic can deploy HOVER to their policyholders for ANY interior and exterior claims at First Notice of Loss (FNOL) and receive back a comprehensive set of measurements, plans, and damage photos directly into ClaimsConnect and MobileClaims.
What’s Ahead
HOVER will continue to look for ways to enhance and streamline the entire insurance lifecycle. We are dedicated to making the inspection process as effortless and rapid as possible for policyholders purchasing new policies. This commitment includes deepening our integration with Underwriting Center and continuing to enhance the self-inspection workflows many carriers employ during the underwriting process.
HOVER is dedicated to transforming the insurance industry by placing policyholders at the center of the underwriting and claims processes. With a strong emphasis on digital solutions, seamless integration, and a commitment to enhancing policyholder experiences, HOVER is leading the way in delivering exceptional policyholder-focused insurance solutions.
