US-based LexisNexis Risk Solutions has acquired Flyreel, a property insurtech that uses artificial intelligence and machine learning to enable self-service property inspections. Denver-based Flyreel (CEO, Cole Winans) says its technology offers visibility into both the exterior and interior of properties, which in turn facilitates efficient underwriting renewals and claims processes. Among the benefits, insurers can more effectively determine appropriate premiums for each property, improve loss ratios, identify critical hazards upfront, capture details about insurable assets, and overall simplify the inspection process improving customer satisfaction across the board. 

Source: Insurance Journal

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