ikeGPS and Spex announce a new software integration for the insurance industry that combines property inspection platform Spex with Spike, ikeGPS' smart laser measurement solution.
The integrated solution produces a modern, mobile-first inspection platform, enabling adjusters and contractors to speed up cycle times to improve productivity, reduce loss adjustment expenses and increase customer satisfaction.
Insurance carriers in the U.S. spend more than $15 billion annually on property claim handling and an estimated $4 billion a year in claims technology. There are approximately 311,000 insurance professionals in the U.S. who process more than 10 million property claims a year.
This new Spex and Spike mobile application integration represents ikeGPS’ entrance to the insurance industry and the first commercial availability of Spike’s application programming interface, or API.
"Since introducing Spike, it’s been adopted by real estate appraisers and residential construction contractors for property inspection, and the natural next step for industry adoption is the insurance market," says Jeff Ross, chief marketing officer of ikeGPS. "We’re so pleased to partner with Spex, a company that values a mobile-first approach to solving the insurance claims process."
Spex founders are insurance veterans who saw the need for better field solutions following the aftermath of Hurricane Sandy. The new Spex 3 platform streamlines data input from the field and offers adjusters transparent documentation of the process.
This helps adjusters avoid the delays, inadequate data and missing information that often come during the claims process. A central Web dashboard houses all information, which users can access when the device is online.
"Spex presents the most comprehensive package of features we have found in the marketplace," says Rod Warner, general manager at Family Mutual Insurance Company, "In our judgement, it is the best property inspection platform out there."
Spex is the first ikeGPS partner to utilize Spike’s new API in order to integrate Spike’s photo measurement capabilities into the Spex solution.
When a claims adjuster uses Spex in the field and needs to capture measurements of a residential property, the adjuster can easily capture a photo of the property using Spike, take the necessary measurements, and then save the Spike photo and data within the Spex app. The photo and measurements can then be added to the report or remeasured for additional estimates.
"With this integration, our customers can utilize Spike to address the often arduous task of physically measuring homes and structures," says Brett Goldberg, CEO of Spex.