Insurance
Home›Insurance›Industry & Deals›Nearmap launches itel Total Price for guaranteed whole…
Nearmap launches itel Total Price for guaranteed whole-home claims pricing
The pricing database draws on more than 30 years of materials intelligence and data from over 15 million claims, and it is delivered inside Verisk Xactimate.
Nearmap, a property intelligence provider, has launched itel Total Price, a new whole-home pricing solution intended for property insurers handling major exterior and interior material categories across claims. The product is designed to address insurer pain points that Nearmap links to rising material costs, disconnected pricing workflows, limited visibility into local sourcing conditions, and downstream issues such as supplements, contractor disputes, and longer claims cycles. Nearmap says itel Total Price provides guaranteed pricing backed by fulfillment, with integrated pricing delivered within Verisk Xactimate.
Nearmap said the underlying pricing database uses more than 30 years of proprietary materials intelligence and historical pricing data from more than 15 million claims. It also said pricing is continually validated against local market information from manufacturers, suppliers, contractors, retailers, distributors, and big-box stores across the US.
The company added that itel Total Price includes an itel Guarantee, intended to provide assurance that materials can be fulfilled at the quoted price. For cases needing more detailed identification or specification, Nearmap said adjusters can use the itel NOW mobile app or submit physical samples for analysis, with laboratory-verified, like-kind-and-quality pricing and typical same-day or next-day service available through the offering at no additional charge.