The platform leverages a database built on 30 years of proprietary materials intelligence and historical data from over 15 million claims. By sourcing localized market data from manufacturers and distributors, Nearmap provides adjusters with defensible, real-time pricing for everything from roofing systems and siding to interior drywall and flooring. Paul Disney, SVP of Product at Nearmap, noted that the goal is to provide a single trusted source for material costs without complicating the existing adjuster workflow.
Nearmap Launches Guaranteed Whole-Home Pricing for Property Claims
Property insurers face a persistent cycle of contractor disputes and fluctuating material costs, but a new solution from Nearmap aims to stabilize the process. The platform, itel Total Price, integrates guaranteed fulfillment-backed costs directly into the Verisk Xactimate workflow to simplify the settlement of complex exterior and interior claims.
Early adopters report up to a 10x return on investment by reducing supplement frequency and shortening claim cycle times. Because the system includes the itel Guarantee, the provided price effectively secures the fulfillment of specified materials. When adjusters encounter unfamiliar items, they can utilize the itel NOW mobile app or physical sample submissions for lab-verified analysis, ensuring consistency from the initial estimate through to final settlement.
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