What's Happening?
Insurtech is increasingly incorporating advanced technologies like artificial intelligence and three-dimensional modeling into risk management strategies. Video analytics, such as BriefCam, allow companies
to process surveillance footage to gain valuable risk insights, enabling proactive safety measures. AI is transforming video data into actionable insights, helping businesses identify risky areas and improve safety protocols. Additionally, the HOVER app uses smartphone photos to create 3D models for property damage assessment, reducing the need for on-site inspections. These innovations are enhancing operational efficiency and safety in the insurance industry.
Why It's Important?
The integration of AI and 3D modeling in insurtech is significant as it enhances risk management and operational efficiency. By leveraging existing surveillance data, companies can proactively address safety concerns and reduce potential risks. The use of AI in video analytics allows for faster and more accurate risk assessments, improving safety measures and reducing injuries. The HOVER app's 3D modeling capabilities streamline property damage assessments, providing a safer environment for claims professionals and a more efficient claims process for customers. These advancements are crucial for insurers to improve customer satisfaction and reduce operational costs.
