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INNOVATION| 21.04.2021

Flyreel joins forces with MAPFRE to bring its clients the most advanced artificial intelligence solution for real estate insurance

 

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MAPFRE and Flyreel, the most advanced artificial intelligence (AI) solution for residential and commercial real estate insurance, have come together to transform business owners’ experience when they are taking out insurance. This tie-up means MAPFRE will be able to spread the word about its first-rate knowledge of risk management to a broader audience of commercial insurance policyholders.

Flyreel was selected from more than 250 companies to participate in MAPFRE’s insur_space fast-track to market program for startups. Flyreel will deploy its industry-leading AI assistant to enable commercial property owners to conduct their self-guided property inspections via their smartphone camera and Flyreel’s proprietary advanced computer vision technology. The solution provides MAPFRE’s commercial customers with a next-generation technology that streamlines the documentation of important property details, risks, and hazards without the need for an on-site inspection or an arduous documentation process.

“We’re grateful for the opportunity to participate in MAPFRE’s insur_space program, supporting MAPFRE as they deliver an industry-leading customer experience to their commercial policyholders in an effort to improve coverage decisions while reducing and managing risk,” said Cole Winans, CEO of Flyreel.

“We are one of the most intensive data-driven businesses in the world, and today data means AI”

Flyreel’s proprietary computer vision technology streamlines the inspection and risk management process by automatically extracting important property details including features, hazards, risks, and more all through a next-generation customer experience. On average, Flyreel can help surface critical recommendations in 30% of properties scanned while exceeding a 90% policyholder satisfaction rate.

“The collaboration between startups and large companies is an opportunity that neither party can miss out on. Products like Flyreel can transform the customer experience. What they’ve done is awesome, and we’re sure joining forces will take us both a long way and be of benefit to many, many people,” said Joan Cuscó, manager of insur_space by MAPFRE. “We are one of the most intensive data-driven businesses in the world, and today data means AI. Smarter use of it will increase efficiencies for the users and insurers.”