LexisNexis Risk Solutions has launched Flyreel for Claims, a new AI-powered property survey solution designed to improve risk assessment and operational efficiency for insurance carriers.
Flyreel for Claims is a consumer-driven survey tool that facilitates the property claims inspection process for homeowners.
Go deeper with GlobalData
The tool is tailored for the home insurance industry, addressing challenges such as workforce shortages, increasing claims volumes and loss adjustment expenses.
It enables policyholders to independently document property details using a “self-guided app”, providing adjusters with “actionable data” to streamline the first notice of loss process and claims experience.
The solution offers virtual property claims inspections through video, imagery and data analysis.
Adjusters receive access to measurements, 360-degree panoramic views and “high-resolution details” that aid in accurate damage assessment.
LexisNexis Risk Solutions claims director Frank Cesario said: “Flyreel for Claims represents the next evolution of AI-driven technology tailored to meet the unique needs of the insurance industry and the consumers they serve.”
“According to our recent home insurance consumer study, 71% of homeowners aware of consumer-led mobile inspections favour this method over traditional in-person inspection visits, demonstrating the growing demand for solutions that simplify and enhance the claims experience.
“By equipping adjusters with deeper, actionable insights earlier in the claims process, Flyreel can help insurers reduce costs, enhance decision-making and support a more seamless customer experience.”
In 2022, the company acquired Flyreel to enhance property risk assessment capabilities.
Recently, the company completed the acquisition of IDVerse, which specialises in AI-powered document authentication and fraud detection.
IDVerse will now operate within LexisNexis’s Business Services segment and will be integrated into various platforms, including LexisNexis RiskNarrative and LexisNexis IDU, with plans to offer it as a stand-alone solution within the LexisNexis Dynamic Decision Platform later in the year.
