Flyreel Sees Nearly 200% Increase in Property Assessments Year-over-Year Fueled by Demand for Virtual Property Surveys

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Provider of AI-Driven Total Property Understanding™ Triples Team and Launches in Real Estate Market

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By putting data collection in the hands of consumers, Flyreel is providing accurate and up-to-date information at scale to help our partners better serve their customers.

Today, Flyreel, the leading AI solution that provides Total Property Understanding™ to property insurers, real estate companies and beyond, announced significant momentum for its ground-breaking platform. Flyreel’s AI-driven platform delivers a seamless digital experience for smartphone users to easily capture data about interior and exterior spaces to expedite property assessments. In the past year, Flyreel saw a nearly 200% increase in transactions with their US-based P&C underwriting solution and now boasts 30 customers to its growing roster of partners, including launching internationally with one of Canada’s Top 10 property and casualty carriers. The company also launched its groundbreaking data capture capabilities to support the real estate market. By providing Ground Level Truth™ about properties, Flyreel is now helping real estate and property management professionals across the value chain from home buying to property management gain cost-effective, efficient insights about the home.

“For many industries today, from insurance to real estate, acquiring property data results in either incomplete or out-of-date information and often requires boots-on-the-ground to capture,” said Cole Winans, CEO and Founder of Flyreel. “By putting data collection in the hands of consumers, Flyreel is providing accurate and up-to-date information at scale to help our partners better serve their customers.”

Flyreel improves the process of information gathering, while also improving the accuracy of the information. A recent survey from Marshall & Swift/Boeckh found that 60% of homes are undervalued with regard to insurance, with an average undervaluation of 17%. Flyreel’s breakthrough AI-assisted data capture solution guides policyholders through effortless self-service inspection workflows for a more thorough analysis of interior and exterior spaces. With more precise and up-to-date property information that is easily collected directly from customers, Flyreel helps to reduce costs, while improving outcomes for providers and their users.

"As a property and casualty insurance carrier who has woven innovation and forward-thinking into part of its culture, State Auto is committed to integrating with emerging technology companies, like Flyreel, to fundamentally change the way an insurance carrier interacts with and meets the expectations of evolving customer needs," said Mitchell Kemper, Director of State Auto Labs, the innovation arm of State Automobile Mutual Insurance Company. "As the first carrier to utilize its services, and an investor in Flyreel, we've had a front-row seat to witness the team's ongoing and rapid learning of the insurance industry. They've turned that education into continuous innovation to ensure providers are able to maximize efficiency and effectiveness in the underwriting process while also creating a better way to support policyholders."

With a 94% policyholder satisfaction rate across thousands of completed inspections for major carriers and MGAs, Flyreel is dedicated to continuing to innovate its capabilities. To keep pace with demand and plans to expand internationally, Flyreel has tripled its team in 2021 and plans to double the current team in the year ahead. For more information on the company’s unique approach and how to join the team, visit https://www.flyreel.co/.

About Flyreel
Flyreel is the leading AI solution that provides Total Property Understanding™ to property insurers, real estate companies and beyond. By combining the most comprehensive data capture solution into a seamless, intuitive mobile experience, Flyreel delivers a next-generation digital experience for smartphone users that collects valuable property intel about interior and exterior spaces. Flyreel provides more accurate and up-to-date property information without requiring “boots on the ground” to accelerate cycle times, reduce costs and deliver an exceptional customer experience. For more information, visit https://www.flyreel.co/.

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Aimee Eichelberger
Superior PR
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