Louisville, Colo., Dec. 18, 2018 (GLOBE NEWSWIRE) -- Accurence, Inc., a SaaS company specializing in automated adjusting, was granted their fourth patent in the insurance technology space on November 1, 2018. The patent grants the company exclusivity on the use of a system and method of performing video or still image analysis on building structures.
The system dictated in the patent creates automated roof estimates with the use of video and photo image analysis, a weighting engine, image analysis rules, and carrier guidelines. The results pass through an automated settlement engine ensuring the estimate is accurately written to carrier requirements.
“Companies, such as drone operators, are working on performing automated damage analysis on roofs using image recognition software so that desk adjusters can remotely create manual insurance carrier-compliant exterior estimates,” said Zach Labrie, VP of Product at Accurence. “Our patent holistically provides for technology steps that give insurance carriers the ability to calibrate a settlement engine using image recognition data to automatically produce estimates in line with company guidelines.”
Accurence’s three prior granted patents dating back to 2011 are focused on exterior roofing systems and guideline automation. This fourth family, as well as two additional families of intellectual property, provide complementary cross-references to improve insurance claims for the industry.
The applications for the patent are far reaching in the property loss space and enable new automated workflows for insurance carriers. One such application is analyzing a set of aerial roof images for hail damage in order to automate a repair estimate that accounts for a particular insurance carrier’s guidelines concerning shingle damage severity, repair versus replace decisions, steep charges, ice and water application, etc.
“Insurance carriers have become weary of intellectual property battles within the industry, so Accurence continues to proactively file patent applications to give insurers peace of mind when working with us. And we get the additional benefit of rewarding teammates who invent leading-edge technology,” explained Jake Labrie, President of Accurence.
Accurence has historically been forward-thinking in their approach toward intellectual property—and this patent is no exception. By forecasting the future of claim management workflows and technology advances, the company was able to file this invention in 2015. Accurence, Inc. currently has eight additional patents pending.
About Accurence, Inc.
Headquartered in Louisville, Colo., Accurence, Inc., is dedicated to developing smart property insurance solutions that help adjusters and contractors confidently assess inspection data and automate repair scope. Accurence has developed software in the insurance vertical since 2010, creating successful integration and partnerships with companies such as EagleView, Xactware, Job Nimbus, and GiddyUp. With the development of their Assist product line within S.A.G.E., its Smart Automated Guideline Platform, Accurence has successfully pioneered automated adjusting solutions for carriers and contractors. Their software harnesses patented technology to perform complex calculations, synthesizing insurer guidelines and claim data to deliver unprecedented efficiencies in homeowner claims. Visit www.accurence.com to learn more.