Hosta A.I. announced an integration with Verisk's solutions to automate the end-to-end remote property assessment and estimation process. Hosta and Verisk will promote the news of their new integration during Verisk Elevate 2023 in Salt Lake City, Utah, on February 7-8. The event gathers top insurance industry thought leaders, skilled professionals and expert product specialists to discuss market trends and learn about new industry innovations, such as this one. Whenever a property claim is filed, a claims representative must go to the loss site to assess the damage and estimate the repair costs.

Going onsite to evaluate the structure, collect detailed measurements, itemize all the materials, and document any damage or risks is time-consuming and costly. These in-person property assessments delay billions of dollars of work in the built-environment economy. With Hosta A.I., the policyholder captures just 4-6 images per room, and Hosta automatically generates an Xactimate Sketch and detects damage.

The Hosta A.I. patented technology complements Verisk's cost estimation solutions. By integrating Hosta A.I.'s automated property assessment solution with Verisk's solutions, industry professionals have access to all the data they need about a loss from just a few photos uploaded by the policyholder. The integration provides policyholders with a more seamless claims process and can accelerate the insurance company approval process.