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Augmented Reality Startup Raises $4 Million To Make Life Easier For Insurance Claims Adjusters.
When one hears the term “augmented reality,” certain related industries come to mind: shopping, education, and gaming to name a few. One generally doesn’t think of real estate.
But PLNAR, a service that digitally deploys full-service real time 3D models of rooms for appraisal and insurance purposes, is looking to be a first mover in the space. And after raising nearly $4 million in a Series A round, it seems they’ve got some investors on board as well.
Developed to virtually “settle” insurance claims, the new mixed reality tech allows users to instantly gather all relevant data about the damaged area. Things like measurements, type of damage, and implied cost of repairs are all determined without any need for human involvement until the case is reviewed.
Intended to reduce fraud and lessen the load on insurance claims adjusters, PLNAR was designed to do something insurance companies love: reduce their total overhead. By streamlining the adjustment process, PLNAR helps settle small claims more efficiently by keeping adjusters at their desks instead of forcing them to go out into the field.
One of the main investors in the Series A, ManchesterStory Group, apparently believes strongly in the project. Matt Kinley, one of the managing partners of the firm, had this to say:
“Historically, measuring rooms as part of an onsite insurance claims adjustment has been a manual process completed in difficult, sometimes dangerous, environments. Using PLNAR’s, AR-enabled, data capture system to measure and create a 3D model of the site for further assessment, improves the speed and accuracy of onsite data collection.”
What do you think about PLNAR’s new project? Let us know in a comment!