Augmented Reality Invaluable To Insurers In Post-Pandemic World

According to leading data and analytics company GlobalData, augmented reality (AR) is set to become a $152 billion market by 2030, and its use cases for the insurance sector are only growing.

The company notes that the technology’s demand among insurers has been catalysed by COVID-19 and the need for remote inspections.

Amrit Dhami, Associate Analyst at GlobalData, commented, ‘The COVID-19 pandemic has required insurers to start using AR technology in the form of AR-enabled inspections as a service platform. These allow insurers to carry out in-depth remote inspections.’

‘The specialist can use AR on a live video stream with the customer to mark specific points, overlay text and pointers to guide them, or measure real-life distances on-screen.’

‘Further, if a risk engineer or adjuster is needed onsite, they can use AR smart glasses to be safely guided by off-site colleagues to minimize the number of agents required at the claim site, while maintaining collaboration.’