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AECInsuranceTruePlanXactimate

Anyone utilizing TruePlan™ for Xactimate™?14568

Queen_City_3D private msg quote post Address this user
I've always thought insurance claims would be a great segment to go after, and so I was excited when Matterport announced the downloadable asset to create a "TruePlan™ for Xactimate™" with Matterport model.

That said, I'm finding that the pricing for this asset makes it too cost prohibitive for any insurance adjuster customers to act upon. Not only do they have to pay us, but we would have to bill an additional $250-1000 (depending on size of property) for that asset.

Doesn't that seem high? I'm guessing part of that cost goes to Xactimate™, but I would think both that company and Matterport would make a lot more by charging less but then having more completed. After all, there would also be more processing fees, more upgrading accounts/hosting charges, etc.
Post 1 IP   flag post
WGAN Forum
Founder
Atlanta
DanSmigrod private msg quote post Address this user
Video: Matterport TruePlan in 30 Seconds | Video courtesy of Matterport YouTube Channel | 6 April 2021
Post 2 IP   flag post
Queen_City_3D private msg quote post Address this user
I must be missing something with how to utilize this as the cost seems ridiculously high for the asset.
Post 3 IP   flag post
WGAN Forum
Founder
Atlanta
DanSmigrod private msg quote post Address this user
Quote:
Originally Posted by @Queen_City_3D
I've always thought insurance claims would be a great segment to go after, and so I was excited when Matterport announced the downloadable asset to create a "TruePlan™ for Xactimate™" with Matterport model.

That said, I'm finding that the pricing for this asset makes it too cost prohibitive for any insurance adjuster customers to act upon. Not only do they have to pay us, but we would have to bill an additional $250-1000 (depending on size of property) for that asset.

Doesn't that seem high? I'm guessing part of that cost goes to Xactimate™, but I would think both that company and Matterport would make a lot more by charging less but then having more completed. After all, there would also be more processing fees, more upgrading accounts/hosting charges, etc.


Short Answer

Livestream Xactimate Training: includes Matterport TruePlan to Xactimate

Longer Answer

The problem MSPs solve for restoration companies is the inefficient use of the Xactimate estimator on the team: the highest paid person at the company.

Imagine that instead of sending the most expensive talent in the restoration company onsite (all that travel down time) to draw/create Xactimate plans, the most expensive talent can handle way more many jobs by being located at the office.

The Matterport TruePlan - that you create - can be expensed back to the insurance company by the restoration company, plus overhead plus profit.

Typically, a restoration company will buy a Matterport camera rather than outsource because it is a 24/7 operation: fire and floods are not limited to Monday-Friday betwwen 9 am and 3 pm.

That said, when there is a major storm – perhaps snow/ice in Canada - that floods hundreds of homes, the restoration company can not handle that volume.

So, introduce yourself to restoration companies and let them know when they can't handle the volume due to a major storm, you can provide a Matterport TruePlan that can be imported into Xactimate. This way, they can handle way more many jobs than their most expensive employee can handle during a weather crisis.

Clear as mud?

Best,

Dan
Post 4 IP   flag post
Queen_City_3D private msg quote post Address this user
I can see why it would save time on site. I just don't understand why it's so expensive an asset. It seems there's way more info in a Matterpak bundle at that's almost a tenth of the cost.
Post 5 IP   flag post
Wingman private msg quote post Address this user
I do not get why a normal floor plan you can buy from Matterport or anyone who can draw it from a 3D tour cannot be used with Xactimate?
Also who is covering that huge cost of $345 on top of a cost for scanning for a 3D tour?
Post 6 IP   flag post
Queen_City_3D private msg quote post Address this user
Quote:
Originally Posted by Wingman
I do not get why a normal floor plan you can buy from Matterport or anyone who can draw it from a 3D tour cannot be used with Xactimate?
Also who is covering that huge cost of $345 on top of a cost for scanning for a 3D tour?


My thoughts exactly.

I'm also curious if its an automated conversion or if it requires a human technician to convert. I'll admit that I'm not too familiar with the asset, but the resulting format doesn't look that much different than a schematic floorplan and one costs $14.99 and the other costs upwards of $800.00
Post 7 IP   flag post
WGAN Forum
Founder
Atlanta
DanSmigrod private msg quote post Address this user

Screen Grab: Matterport Blog

Matterport Blog (8 April 2021) Introducing Matterport TruePlan™ for Xactimate®, a new Add-on offering that’s a must for insurance and restoration customers - Our new TruePlan Add-on lets you generate accurate as-built sketches of any space, right from your model, with a click of a button

According to a new case study published by ATI, the adoption of both 3D scanning and TruePlan can save restoration companies, on average, 163 days of sketching time and $121,830 annually over typical investigation techniques. In addition, ATI reports being able to estimate losses 4x faster, increase sketch time productivity by 5x, and increase the accuracy of sketches by 33%.

Source: Matterport Blog


Screen Grab from Matterport Blog
Post 8 IP   flag post
MP/Embed
Founder
Frisco, Texas
Metroplex360 private msg quote post Address this user
We have had modest interest in this business from several different insurance adjusters in the North Texas area. It is my belief that just like the schematic floor plans, the exact documents do require human labor which is supported by matterports recent delays in providing documentation in a timely fashion due to an overwhelming amount of orders. The matter pack, while it does provide a ton of useful assets, it's fully automated and generated when every model is processed. You are only paying to unlock that.
Post 9 IP   flag post
Queen_City_3D private msg quote post Address this user
Quote:
Originally Posted by Metroplex360
We have had modest interest in this business from several different insurance adjusters in the North Texas area. It is my belief that just like the schematic floor plans, the exact documents do require human labor which is supported by matterports recent delays in providing documentation in a timely fashion due to an overwhelming amount of orders. The matter pack, while it does provide a ton of useful assets, it's fully automated and generated when every model is processed. You are only paying to unlock that.


Thanks! Good info!
Post 10 IP   flag post
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