From pricing guesswork to indemnity certainty
Aug 2026
Paul DisneyAug 2026
Paul Disney)
In the US, insurers are investing in claims modernisation at scale and have more data and better tools than ever for identifying and estimating damage. Industry technology spending is projected to reach $173 billion in 2026 (a 7.8% increase over the previous year) and represents 6% of total spending on technology in the United States. In 2025, 85% of insurance organisations invested in data analytics, 77% in automation, and 68% in cloud storage – with more investment coming.
AI-powered damage assessment, remote adjusting, and digital estimating tools have become the norm. But it’s not clear all this investment is paying off for insurers’ bottom line. Indemnity costs have risen significantly, material prices have gone up due to both inflation and tariffs, and with the most seasoned adjusters exiting the workforce, large experience gaps are further affecting indemnity.
Due to a combination of inflationary costs, supply chain bottlenecks, regional price fluctuations and tariffs, both asphalt shingle and metal roofs are more expensive to both repair and replace. Major roofing manufacturers announced price increases of up to 10% on materials in 2025, affecting asphalt shingles, metal roofing, and accessories related to roof repair and replace across the board.
The cost of home repairs and remodelling in the first three months of 2026 were the highest they have been in a decade, representing a 68% increase overall since 2016. In 2024 alone, roof-related claims losses totaled $31 billion – a 30% increase over the previous two years.
For interior claims, the material costs are similarly affected by macro factors like inflation, tariffs, and variations of regional prices.The variety and volume of materials for flooring-related claims is far higher than for exterior claims, making it even harder for adjusters to create accurate and market-based estimates.
Settling claims is getting more expensive, and pricing is often inconsistent due to outdated data and limited visibility into sourcing conditions. This leads to overpayments, adjuster friction, and prolonged settlements that slow claims and leave the policyholders in the lurch. Up to 15% of claims overpayment are due to inaccurate material pricing, per an internal study, and slower settlements negatively affect customer satisfaction.
Even in an industry that has rapidly modernised, inconsistent and unguaranteed pricing can still create major hurdles for carriers. Insurers who want to continue to innovate need access to pricing that holds up from estimate to settlement.
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A pricing solution that bridges the gap
A solution to this problem should address a few key needs: it must be accurate, localised, guaranteed, and cover the full home – both interior and exterior materials. That’s why Nearmap is introducing itel Total Price in the US – a whole-home pricing solution designed to bring guaranteed pricing across major exterior and interior building materials into a single claim workflow.
Built on more than three decades of proprietary materials intelligence and historical pricing data from more than 15 million claims, itel Total Price helps insurers create a more connected claims experience while reducing operational friction and having a tighter control over indemnity spend to achieve a ROI of up to 10x.
It includes both home interior (flooring, carpet, interior paint, tile) and exterior (roofing and siding) materials in a single transaction per claim to maximise value. Pricing is also regularly updated with regional market data pulled from a variety of data sources – including manufacturers, contractors, and retailers.
itel Total Price not only improves loss ratios but also reduces overpayment exposure and makes estimates more defensible with regulators, contractors, and policyholders. It is also integrated directly into the estimating process adjusters already use, making for a dead-simple workflow fully integrated in Verisk Xactimate® – just two clicks in the estimating platform for nearly all materials in a claim and the adjuster’s work is done. This frees adjusters to focus on other critical parts of making policyholders whole.
itel has long been known in the claims industry for the itel Guarantee, which uses a network of national fulfillment partners to source, ship, and deliver materials at the stated itel price. This guaranteed fulfillment program continues with itel Total Price and gives carriers, adjusters, and policyholders confidence in the data, ultimately cutting down on disputes. It ensures the price carriers see is the price they get, removing the all-too-common friction and guesswork that can delay the resolution of a claim.
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Unlock indemnity certainty through a complete claims pricing solution
US Insurers are looking for innovative ways to streamline their adjuster workflows, reach accurate settlements, and improve claim outcomes. itel pricing solutions are trusted by 100 of the top 100 P&C insurers and provide accurate, localised, and guaranteed material pricing that covers the entire home, moving carriers from inaccurate claims payouts to indemnity certainty.
It provides a simple workflow for adjusters with no extra training required, covers the whole home in a single transaction, can be submitted via a physical sample and the itel NOW mobile app, and is backed by the itel Guarantee. Through itel Total Price, carriers receive the comprehensive pricing solution to help them address inconsistent pricing head-on and drive better outcomes for carriers and policyholders alike.
Claims organisations have rapidly scaled their technology but unguaranteed pricing – made worse by economic macro factors and rising material cost – can still create gaps for indemnity. Comprehensive pricing based on localised data and guaranteed fulfillment is the key to help carriers unlock better outcomes.