ATI Shortens the Insurance Claims Cycle by 400% with Matterport

SUNNYVALE, Calif. —  Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that ATI Restoration, the largest family-owned disaster restoration contractor in the United States, has realized dramatic cost savings and productivity gains since its adoption of the Matterport TruePlan™ for Xactimate™ service, a software platform from Verisk. Used in conjunction with a Matterport 3D scan, TruePlan has helped the company increase productivity by 500% and speed up the estimation process for insurance claims by an average of 400%. In addition, the time savings from not having to sketch manually or conduct repeat site visits saves ATI the equivalent of more than $100,000 per estimator per year in labor costs. 

"The days of paper and pencil sketching are over,” said Robb Harrell, Director of Operational Improvements and Technology at ATI. “We’re getting much more accurate measurements, dramatically faster field inspections, faster repairs, and faster claims resolution. Using Matterport digital twins and TruePlan for Xactimate has been transformative for our business and the industry at large, but most importantly, to the people trying to get their lives back to normal.”

Before adopting TruePlan, ATI estimators took photographs and manually measured and sketched damages onsite, often returning to verify measurements or capture an angle that may have been missed. ATI’s new workflow with Matterport eliminates all of these steps.

First, ATI scans properties with its Matterport Pro2 3D cameras to create photorealistic, immersive digital twins that can be accessed and utilized by estimators, subcontractors, and insurance companies alike. TruePlan generates 99% accurate sketches from the digital twin, which eliminates the need for manual sketching of a property in Xactimate, the industry’s leading insurance claims software used to calculate building damage, estimate repair costs, generate property loss statements, and create claim offers.

Estimators can now estimate repairs remotely from their home or remote offices with TruePlan because they can digitally measure damage from any angle inside the digital twin, use Mattertags to embed information, and add Notes to collaborate with others. The need for estimators to return to the site is reduced or even eliminated in some cases; even subcontractors can get the specifications they need from the digital twin. 

“Companies like ATI not only see the value of Matterport and TruePlan, but take it one step further by aiding insurance carriers to improve the policyholder experience by settling claims faster. Digital twin technology is having a deep impact in the world of claims and advancing the insurance experience with every capture,” said Kimberly Burdi-Dumas, Global Director of Insurance Strategy at Matterport.

Learn about Matterport for Insurance & Restoration here. Read more about how ATI uses the Matterport platform here or watch a video here.

ABOUT ATI Restoration, LLC

ATI Restoration, LLC  (ATI) is the largest family-owned disaster restoration contractor in the United States. It specializes in recovery efforts following earthquakes, hurricanes, fires, and other large-scale catastrophes. ATI employs 1,200 people across its headquarters in Anaheim, California and 26 branch offices. https://atirestoration.com/

About MatterportMatterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make spaces more valuable and accessible. Millions of buildings in more than 170 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.

©2021 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.

Media Contact:Linda McNairSenior Director, Communications[email protected]  408.675.8427

Investor Contact: Soohwan Kim, CFAVP, Investor Relations[email protected]

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

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