For about two years, we’ve been working with insurance and restoration customers to bring Matterport TruePlan™ for Xactimate® to market. We’re excited to announce that it is generally available today as a new offering within our new, more simplified Add-on user experience. Now, whenever you view a Matterport 3D model in your account, you can see the Add-Ons available to you -- all in one place. Over time, you’ll continue to see Add-On offerings from Matterport, as well as ones from third-party partners.
What’s so great about Matterport TruePlan? Let’s start with Xactimate® software by Verisk which is widely used by insurance companies and their adjusters to calculate building damage, estimate repair and rebuilding costs, generate property loss estimates and put together claim settlement offers.
One of our TruePlan customers is ATI Restoration (ATI), the largest family-owned disaster recovery firm in the United States. Like many restoration companies, they already use the Matterport platform to manage a library of 3D models captured with our Pro2 camera, using them as rich, immersive visual documentation in lieu of photos and video. And now with TruePlan, they can generate an Xactimate-compatible file (.SKX) from the same Matterport model in just one click. Within 48 hours, a complete and accurate as-built sketch of the property is delivered and can immediately be uploaded into Xactimate.
According to a new case study published by ATI, the adoption of both 3D scanning and TruePlan can save restoration companies, on average, 163 days of sketching time and $121,830 annually over typical investigation techniques. In addition, ATI reports being able to estimate losses 4x faster, increase sketch time productivity by 5x, and increase the accuracy of sketches by 33%.
Source: Time analysis of measuring and sketching a ~374 square foot space, the average size of a water loss in the United States. 3D Property Scanning: Case Study & Results, ATI Restoration
“Not only have we observed significant cost savings and reduction in sketching time, but we also have seen an increase in the overall accuracy of our sketches. On average, a traditional manual sketch had a 66 percent accuracy score while the Matterport TruePlan was 99 percent accurate,” says Robert Harrell, Director of Operational Improvement & Technology at ATI.
TruePlan not only provides a more accurate sketch while saving hours of time, but customers also note they can plan their operational budgets more effectively, especially during catastrophic events (CAT). You can watch a recent webinar we hosted with Rob who talked about TruePlan in depth and how he used it to organise and operationalise for a recent CAT in Texas.
“Not only does Matterport TruePlan eliminate the need for, and cost of, manually sketching, it helps us optimise our staff, especially when catastrophic events occur,” said Ted Foster, Director of Training at BELFOR. “TruePlan allows our team to scale quickly and opens us up to larger and higher volume claims.”
We never get tired of hearing how much time TruePlan has saved producing estimates or how much quicker the claims cycle has become. Why? Because it means that people can get back to their lives that much faster. And that’s really what it’s all about.
How to order a TruePlan
Starting today, you can order the TruePlan for Xactimate® for any one of your Matterport models, right from the new Add-Ons tab, with a click of a button. If you are not a customer yet, learn more about the benefits of TruePlan here.
To order, simply:
- Log into your account at my.matterport.com
- Navigate to the Add-Ons tab
- Select the TruePlan option
- Click “Buy” on the right side of the product description
- Your TruePlan file will be delivered within 48 hours of the time the order was placed
To import a TruePlan into Xactimate®, watch this video:
For more details, including pricing, please visit our Support page.
If you’re interested in Matterport training and certification, we’re excited to partner with Actionable Insights, a 501(c)(6) non-profit founded to preserve the health of the property insurance ecosystem. Executive Director, Seth Harrison, is excited about this long-awaited product from us.
“TruePlan gives contractors and insurance carriers the ability to automate the sketching aspect of property insurance claims, reducing cycle times and friction within the claims settlement process. These Xactimate-compatible sketch files are consistently accurate, allowing property insurance professionals to focus on what only humans can do - taking care of policyholders when they are affected by a covered loss.”