Matterport Drives Transparency Resulting in Fair and Fast Payout for Property Owners Attempting to Get Lives and Businesses Back on Track
SUNNYVALE, Calif. – December 14, 2017 – Emerging 3D reality capture technology is helping property owners protect against insurance losses, both before and after disaster strikes. Matterport, the immersive 3D media technology company based in Silicon Valley, is being called a “game changer” by professionals in the property claims market.
After disasters, property owners, public adjusters, contractors, and attorneys face substantial obstacles when assessing structures for repair. Damage must be precisely documented, which can’t be done comprehensively with 2D photos or video. In addition, the claims process can take months, during a time which a building’s condition can change, further complicating the claims and rebuilding process. This provides a real issue for owners who have to complete repairs as quickly as possible, sometimes before the insurance claim is sorted.
Owners need to proactively “freeze” (or capture) their properties in time, so they can easily proceed with repairs and the claims process in the event of loss. While photography and videos are both tools that can be used, they don't provide nuance, which is why many property owners today have turned to Matterport’s immersive 3D and virtual reality (VR) platform to record their spaces in pre-and-post-damage condition.
"We are pleased to see homeowners, claims adjusters and insurance professionals adopting our 3D reality capture technology to document their property," said Matterport CEO Bill Brown. “As seen with the recent devastation wrought by natural disasters across the United States, Matterport’s ability to capture an exact replica of a property helps to provide the fairest outcomes, cuts time and expense for insurance professionals and expedites the insurance claims and rebuilding process for property owners. Matterport technology is not only cost effective and simple to use but also produces results that are far superior to 2D photography."
Ft. Lauderdale, FL-based WriteLoss, a business that documents property damage, started using Matterport cameras and cloud-based services over 18 months ago, in over 500 cases across 36 states. “The Matterport technology precisely captures a property’s condition at a specific moment in time in a way that’s game-changing,” said David Herring, CEO of WriteLoss. “The immersive nature of the technology provides visceral, detailed views of a property and what is needed to fix it. A decision-maker can be located thousands of miles away and yet feel like she is walking through the property at her own pace, while deciding what to see.”
“Anyone who lives in a hurricane, flood, fire or earthquake zone should really consider getting a 3D model of their property in case disaster hits,” added Herring. “But the same goes for business or homeowners anywhere. It’s an inexpensive way to ensure you are financially protected should you experience a loss as regular as, say, overhead water damage. We tell people to hold on to receipts, but insurance companies want to see photo documentation because that's what changes the outcome and makes it better for people, and I can't think of a better way to document that than Matterport.”
Founded in 2011, Matterport gives people the freedom to experience any place at any time and from anywhere. There are numerous applications across industries beyond property recovery, including real estate, hospitality, travel, entertainment, construction, and others. Matterport's easy-to-use platform captures immersive 3D tours, virtual reality experiences, Google Street View inside view tours, 3D floor plans, guided tours and more. The all-in-one technology requires little to no training to operate, and a 2,000-square-foot space can be captured in under an hour.
Headquartered in Sunnyvale, CA, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on Web, mobile devices, and VR headsets. The Matterport Pro Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences. More information about Matterport is available at www.matterport.com. To learn more about becoming a Matterport Service Provider, visit our Service Provider Program.
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Beckerman for Matterport