Technology and tools to drive the faster resolution of claims
Claim Central Chief Executive Brian Siemsen, predicts immersive technology and virtual reality still capture, will be the next big thing in claims. Below is a brief transcript on what he had to say as part of a panel discussion at a recent Insurtech conference in Sydney.
Moderator: Angus Kench, Vice President Claims Asia Pacific, Liberty International Underwriters
Panellist: Brian Siemsen, Chief Executive Officer, Claim Central Consolidated
ANGUS KENCH: Brian, have you got some examples from the recent CAT events, how the tools can drive better communication and the fast resolution of claims, and that’s what we’re all trying to do? There is no claim that gets better the older it gets. Have you got some good examples?
BRIAN SIEMSEN: One of the best examples we’ve got now, there are two components of the technology such as the immersive technology, such as the VR video (VR still capture), which is the still 3D capture of a site instantaneously.
If you think about what’s happening up in North Queensland now, unfortunately, we’ve had a death up there, because of the type of water that’s going through the properties. As you can imagine it’s not just pool water that’s going through those properties, it’s coming from the ground up, and it’s coming through sewerage tanks and things like that.
The other part of what we do in the claims services side, is we’re also able to understand what’s happening there, and we’re also able to translate that into IP, the VR technology is allowing the right resource and a safe environment to take a 3D capture of these homes.
If you think about that, for example, the traditional approach is the customer will lodge a claim, someone turns up to site, the emergency assistance will be required, there will be a bunch of mitigation that needs to happen, seven contractors could be seeing that site for the first time, and then deciding how to be safe. Then the other part of that is, it’s not just the safety element, the 3D VR capture allows the claim examiner to be connected to the site instantly.
So what’s probably going to happen this week, next week, and the following week, for anyone who understands claims, is there is going to be a bunch of mould because of the types of humidity and what’s happening up in Queensland, these sites haven’t been stripped out or dried out, there’s going to be a bunch of secondary degree damage going on back up there.
Going back to the immersive technology such as live video at the point of triage, so pushing video up to the front of triage and getting eyes on site to mitigation, emergency response and restoration activities to mitigate the property hazard cost implication, and it also has a safety implication.
If we start to think about one of the other big problems inside property claims and that is the temporary accommodation piece, is to be able to understand if a property is liveable, or non-liveable. We’re starting to take this proactive approach as opposed to a reactive approach in claims, just because we can take a 3D full internal/external view of the home, and from the speed of claim and customer service and responsiveness.
The other by-product of this is, I manage over 1,000 claims as a user, inside an insurer, sitting in Sydney, potentially I could be dealing with some claims up in Queensland, and all I see is still photos and a bunch of reports. The challenge we’ve got is retaining this talent, if we think about the by-product of some of the opportunities of having something like 3D VR.
As a claims examiner, I’m experiencing the walkthrough, I’m watching video, I’m interacting with the customer, they’re showing me the mould, they’re showing me the additional damage, the place may not be liveable. These are real practical examples of immersive technologies up the front of a claim at the point of triage, that just doesn’t have a one-dimensional view, a customer, a safety, a bunch of economics that hang off the back of that.
As we continue to explore these they become a commodity which they will be, ah you’ve heard it here first, the video with our technology will become a commodity up the front of a claim and they’re not going to be anything new. Photos will be a subset of more of a live experience in terms of claims. You’ll see a whole bunch of benefit that will come in the next few years as companies embrace it more and more.