Company: Chrp Technologies
Website: chrptech.com
Business Category: A provider of insurance-process services
Maturity Status: Startup (less than 3 years since product went into production)
Product or Service: Chrp Loss Prevention Platform
Area: Property & Casualty insurance
Chrp is a loss-prevention platform built for homeowners insurance carriers. We help insurers proactively identify hazards (ex. faulty shut off valves, supply line damage, electrical hazards) in and around the home before they turn into claims, and then work with the homeowner and agent to facilitate repairs.
Chrp captures property data through virtual and physical inspections and analyzes those images using vision artificial intelligence trained on construction expertise to surface risks like water intrusion, roof degradation, and other preventable issues. The result is better visibility for underwriting, fewer preventable claims, a healthier book of business for carriers, and healthier homes for policyholders.
Chrp partners with over 30 carriers in the US and Canada spanning from large global carriers to small regional mutuals to reduce losses and improve homeowner experience.
What makes us an InsurTech:
Chrp’s core loss prevention platform covers four primary elements:
- Capture – Obtain photos and home details via the homeowner, agent/broker, and APIs
- Analyze – Chrp’s 400+ AI models review the home data based on the insurance carriers specific underwriting guidelines
- Recommend & Report – Based on the insurance carriers underwriting hazard guidelines and Chrp’s expertise, recommend next steps to educate the insured on the importance of remediation and generate reports for underwriting
- Repair – Work with the homeowner to understand what needs to be repaired and why, and a way to provide evidence of that repair to the carrier
Major features & technology used:
Chrp’s primary technology innovation comes in the unification of construction expertise with deep insurance experience. By evaluating millions of claims and inspections, Chrp has identified 400+ potential failure points inside and outside of the home that can indicate the likelihood of a future claim. Our proprietary artificial intelligence and computer vision models are trained to give construction expertise to every underwriter. We continue to add new models and improve existing ones through machine learning.
News & Updates
See the latest Chrp news.
About Chrp
Chrp is an AI-powered home assessment and loss prevention platform. By combining advanced technology with deep construction and insurance expertise, Chrp identifies potential hazards inside and outside the home before they become costly losses. Partnering with carriers of all sizes across the country, Chrp is redefining how insurers prevent risk, enhance underwriting efficiency, and protect policyholders’ homes. For more information, please visit chrptech.com.
Source: Chrp Technologies, Inc.
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