The traditional damage assessment methods are very time-consuming and require the adjuster to make on-site visits. However, with the emergence of technology and innovation, along with the recent shift to work from home, remote damage and loss estimation has emerged as the new normal for the insurance industry. The blog covers the reasons why more and more insurers are transitioning to remote property damage assessment solutions along with the benefits it offers. Let's get started.

1. Safety
Remote damage assessment is preferred in a number of cases, especially following a natural disaster, as it offers more safety to both the claims adjuster and claimant. It helps you do away with the need for on-site damage assessment and reduces the risk of injury. 

Further, in the wake of a calamity, such as an earthquake or hurricane, it is typically unsafe for the policyholder to stay on the property. With the help of property damage estimation solutions, insurers can assess the damage without putting anybody at risk. 

Additionally, remote damage estimation enables claims adjusters and policyholders to enjoy contactless interactions, thereby limiting exposure to Coronavirus and other contagious diseases. 

Apart from ensuring physical safety, remote damage assessment also enables the secure transfer of information between the adjuster and insurance provider. This helps in ensuring that confidential personal and financial information does not end up in the wrong hands.

2. Cost-Savings
Remote damage assessment can deliver significant cost savings. For one, as opposed to in-person assessment, the assessor does not have to travel to the site, thereby saving travel time and expenses. Further, it also facilitates situations wherein visiting the site is unsuitable. 

Since remote assessments are quicker and more efficient, both insurers as well as policyholders can save time and costs. Insurers can allocate the time and money resources to other areas of the business. 

By leveraging photogrammetric and remote sensing techniques, adjusters can evaluate more properties in a shorter time span. 

The enhanced efficiency frees up adjusters for more value-adding tasks and reduces labor costs. All in all, remote property damage estimation system helps insurers, as well as policyholders, save costs by offering faster, cheaper, and more accurate claims processing.

3. Efficient Claims Processing

Remote damage assessment can immensely speed up and streamline claims processing. Traditional in-person claims processing leads to unwarranted delays and poses a security risk, which remote damage assessment is not prone to. Instead of physically going to the site for inspection, the adjuster can leverage rich media content and virtual inspections for evaluating the damage or loss remotely. This enables the adjuster to quickly assess the nature and extent of the loss and offer an estimate for repair, replacement, and recovery. The details can be transferred digitally to the insurance company for further processing. As a result, the insurance company can significantly reduce the claims processing time while policyholders enjoy faster payouts. 

Apart from fast-tracking claims processing, property loss estimation solution also improves accuracy and reduces the probability of human errors. Digital technologies can furnish claims adjusters with accurate measurements and data. This helps in ensuring that the estimate is as precise as possible.

4. Lower Environmental Impact

Further, on-site damage assessment requires resources in the form of paper, fuel, etc. With remote damage assessment in the picture, all the data is captured and transmitted electronically and in digital form, which helps in minimizing the need for additional resources that could have a negative impact on the environment. 

In the event that the damage has taken place in a sensitive ecosystem, remote damage assessment can be the least invasive method to explore such a territory without upsetting its natural balance.

5. Higher Customer Satisfaction

By making the claims process smoother, faster, and more accurate, insurance companies can ensure policyholders receive faster payouts. This reduces stress and uncertainty and paves the way for a better customer experience. 

Further, remote damage estimation gives policyholders the convenience of submitting videos or photos of the damage from their personal devices. This is far more convenient than scheduling appointments with claims adjusters. Virtual inspections are more transparent in nature. It eliminates suspicions or anxieties the policyholders may have and helps insurers meet their expectations while building trust. 

Digital tools like 3D imaging and virtual inspections along with property damage estimation solutions also offer a more precise estimation of the damage than a physical inspection alone. This can help to ensure that the policyholders receive fair and accurate payouts.

Concluding Thoughts

One of the most challenging aspects of damage assessment is on-site inspection as it involves significant coordination, travel, and money resources. Remote damage estimation resolves these challenges and enables insurers to accelerate the inspection process and enhance customer satisfaction. Digital tools also facilitate accurate assessments of damage and help insurers prevent costly mistakes. With access to the right tools such as AI-based damage analysis, adjusters can have the right information at their disposal, and use it to rapidly adjust and settle claims, while overcoming the need to physically visit the site.