Computer Vision Means Satisfied Customers

Giving the customer what they want -- or need, depending on whom you’re quoting -- is a basic tenet of business. And perhaps the one thing all customers want -- and need -- is a good experience with the company they are working with.

It’s a truth that the insurance industry needs to understand.

One of the biggest complaints consumers have against their insurers is the often lengthy time it takes to settle claims. And dissatisfied customers often turn into former customers; studies show that over 60% of customers are likely to switch to a competitor after just one bad experience -- while more than three-quarters would jump ship after just two such experiences.

If customers equate slow claims processing with poor service, insurers need to find a way to speed up claims -- and fortunately, modern technology, in the form of advanced computer vision, can provide insurers with the means to do just that.

These advanced computer vision systems use cameras and visual detection systems in vehicles, drones equipped with high-resolution cameras and images taken by devices such as phones and tablets. The images are then automatically uploaded to machine learning-based AI systems that analyze thousands of data points -- type of damage, estimated repair costs, structural integrity (of buildings or vehicles) and much more.