ITEL Laboratories

About ITEL Laboratories

ITEL Laboratories, Inc. provides data-driven solutions for the property and casualty (P&C) insurance industry, focusing on claim settlements. Following its acquisition by Nearmap in May 2025, its capabilities have been integrated into the Nearmap Property Intelligence Platform, offered as the itel Pricing and itel Analysis solution suites. Founded in 1993 and headquartered in Jacksonville, Florida, ITEL established itself as an independent laboratory that analyzes damaged building materials to provide accurate valuations for insurance claims. The company, formerly known as Global Claims Services, served the top 100 insurance carriers in North America by offering detailed assessments for materials like flooring, roofing, and siding. Its business model centers on B2B services for insurance companies and claims adjusters, who rely on ITEL's data for managing property claims. The company's core service involves laboratory testing of physical samples sent by adjusters or contractors to determine the like-kind and quality replacement cost for damaged items. This analysis is compiled into a report used to settle claims. ITEL's proprietary database, built with information from manufacturers, retailers, and distributors, allows for precise, localized, and guaranteed pricing on building materials. In addition to pricing, the company provides repair-versus-replace analysis, particularly for cabinets and furniture, and material matching services. The firm developed the itel NOW mobile application in 2017 to deliver on-site pricing, repairability, and matching results, streamlining the decision-making process for field adjusters and contractors. In May 2025, private equity firm GTCR, which had partnered with CEO Brian Matthews to significantly grow the company's revenue, sold ITEL to Nearmap, a Thoma Bravo-backed property intelligence company. The strategic acquisition combines Nearmap's high-resolution aerial imagery and AI-driven analytics with ITEL's ground-truth data to create a comprehensive solution for the insurance sector, from underwriting to claims settlement. The integration allows for faster and more defensible claims decisions by embedding guaranteed material pricing directly into existing workflows.