DENVER, Sept. 25, 2018 /PRNewswire/ -- Flyreel, the most advanced Artificial Intelligence (AI) solution for residential and commercial property insurance, and Donan, a leading nationwide forensic investigation firm, are partnering to provide property insurers with AI that enables them to understand, predict and prevent risk. In the event of a claim, the partnership equips carriers with the intelligence and control to pursue subrogation.
Flyreel's easy-to-use AI assistant guides policyholders (or any user) through property inspections using the camera on their mobile device and powerful, insurance-specific computer vision. As users pan their mobile phone across a property's interior and exterior, Flyreel's proprietary computer vision technology automatically documents property features, contents and policy-worthy details. For carriers, this enables personalized self-inspections at scale, real-time data intelligence, and comprehensive baseline records of properties to inform decisions across the value chain.
With the integration of Donan's high-resolution forensic data, and insights from hundreds of thousands of property and product failure investigations, Flyreel's AI now identifies specific risks related to products and appliances as they're detected by the AI assistant. As an example, as a policyholder scans a water heater, Flyreel's AI will return risk factors and even a prediction of when and why the water heater may fail. Using these insights, insurers can better understand, manage and price individual risk, as well as provide personalized recommendations to their customers. When a water loss occurs, Flyreel's AI can scan the area of origin and initiate the subrogation claims process if the requirements of the insurer's recovery potential are met.
"Donan completes tens of thousands of property and product failure investigations every year for nearly every major personal and commercial property lines carrier throughout the United States. Our vast loss experience and detailed property-specific data is exceptionally valuable when understanding risk and responding to claims. We're excited to put our intellectual property to use in Flyreel so that carriers can benefit from a new level of property intelligence through this amazing solution," said J. Lyle Donan, President and CEO of Donan.
The Flyreel and Donan partnership enables insurers to make more informed risk decisions at scale, while delivering new value to customers through a personalized digital experience. Using the solution, property insurance carriers can:
- Better align risk with premium
- Personalize coverage to unique, individual risk
- Proactively mitigate risk with individual policyholders at scale
- Identify recall opportunities before claims occur
- Assess subrogation potential at First Notice of Loss
"Our mission is to help carriers use the best of today's technology to protect people and the things that matter most to them. By integrating Donan's intellectual property into our platform, we're uniquely positioned to provide carriers with the most comprehensive, affordable and efficient way to understand and measure risk," said Cole Winans, CEO of Flyreel. "This partnership sets the tone for where our market needs to go in order to provide policyholders the protection and experience they deserve in today's age."
To learn more about the partnership between Flyreel and Donan, visit www.flyreel.com/donan.
Flyreel offers insurance-specific AI for commercial and residential property insurance carriers.
By putting the power of AI in the hands of customers, Flyreel dramatically improves self inspections, risk management and claims experiences. Flyreel's proprietary computer vision and machine learning technology empowers carriers to make smarter, data-based underwriting and risk management decisions, and even proactively prevent losses. Flyreel is based in Denver, Colorado. To learn more, visit www.flyreel.com.
Donan is a full-service, world class forensic investigation firm with offices throughout the United States. Their services include forensic engineering, fire investigation, component testing, UAV services and litigation support. Since 1947 Donan has provided first-rate expertise, conclusive answers, and superior insights through innovation. Their mission is to provide conclusive, unbiased and accurate forensic investigation services with the fastest turnaround time and best customer service in the industry. Visit them online at www.donan.com.