LexisNexis Risk Solutions Acquires Property Insurtech Flyreel
Intuitive home inspection technology infused with industry-leading data analytics gives
Flyreel uses proprietary computer vision technology to guide a home or business owner through a comprehensive property scan via the policyholder's smartphone. Using the Flyreel app, consumers effortlessly capture interior and exterior property features. The insights are digitized, verified and delivered into insurance carriers' workflows, eliminating the need for an onsite visit.
"Insurers need a modern solution for the home inspection process that reduces costs, gives them the insight they need to underwrite and improve loss ratios, and offers a convenient, intelligent customer experience," said
Among the benefits, insurers can more effectively determine the appropriate premium for each property scanned, improve loss ratios by identifying critical hazards upfront, reduce premium leakage by capturing details about insurable assets and simplify the inspection process for improved property owner satisfaction.
Flyreel's technology also benefits consumers with a better customer experience by alleviating their scheduling headaches, improving a consumer's understanding of their home or business risks and creating a record of their possessions in the event of a future claim.
Flyreel is the leading provider of insurance-specific AI solutions to residential and commercial property insurers. Flyreel provides insurers Total Property Understanding™ through the delivery of comprehensive, accurate, and up-to-date interior and exterior property analytics. Powered by proprietary machine learning and computer vision technology, Flyreel's mobile "Property Assistant" guides consumers through property inspections and claim surveys without requiring an onsite visit and while automatically capturing business-critical data and analytics to expedite and improve insurance outcomes across underwriting and claims. Flyreel is based in
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in
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