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Heard about digital twins for property insurance but not sure where to start? Our quick guide has you covered.
When documenting the condition of a property, insurance adjusters often face many challenges. Factors such as access limitations, time constraints and environmental conditions can all effect the accuracy of the documentation. However, new advancements in technology are making things easier, with 3D scanning and digital twin technology offering a hastle-free, accurate and comprehensive way for insurance adjusters to document the condition of a property.
In this article, you will discover how property insurance companies actively use digital twins to enhance the efficiency of their operations and learn exactly how they apply the technology when processing insurance claims.
Using digital twins to document and assess property damage
Picture the scenario: you arrive at a fire damaged property and now you’ve got to get to work documenting the damage. Property damage requires a lot of detailed information to evaluate the claim and ensuring that nothing important has been missed isn’t always easy. Especially if you’re also dealing with an (understandably) emotional homeowner. This is where digital twin technology comes in.
A digital twin is created using special equipment that 3D scans and takes high resolution images of it’s surroundings at the same time. This is actually the quickest part of the process, usually requiring around an hour to 90 minutes to fully capture a residential property. Each 3D scan captures a 360° image around the camera, so there’s no need to worry that something hasn’t been captured. The 3D scans & images are then processed into a complete ‘digital twin’ of the property that can be opened and explored on any device with an internet browser
A digital twin allows insurance adjusters to remotely assess the extent of the fire damage with precise visual documentation
With the resulting digital twin, an insurance adjuster can remotely explore, examine and assess the physical state of the property from anywhere. Tools within the digital twin, such as the measurement tool, make it possible to take accurate measurements of walls, doors, windows or anything else in the property without the need to re-visit . To put it simply, using a digital twin for an insurance claim is the next best thing to being at the property in person.
Lets take a look at some of the main benefits of using digital twin technology for your insurance processes:
Assessing damage extent
Digital twins provide clarity on the extent of property damage. By capturing visual and 3D data, insurance adjusters can more accurately assess costs and determine compensation. This will ensure a speedy restoration process and save valuable time for the both insurance provider and the home owner.
Accurate documentation
Offering a precise visual record the property condition will ensure a fast claim process. Digital twins allow insurance adjusters to browse all areas of a property, zooming into key point of interest and easily capturing any additional images they may need. Providing an easy and fast method of documenting all aspects of damage.
Preservation of Evidence
Digital twins preserve all damage evidence, even when physical evidence is removed or repaired during restoration.With a digital twin, you can document each stage of restoration. From pre-damage, to post-damage and post-restoration. Having a digital copy of each state of the property allows for full and thorough documentation of all the evidence required.
Remote Assessment
Save valuable time, money and resources by eliminating the need for physical travelling to the property. With a digital twin, you can send a URL link to anyone with internet access to view the space. Insurance assessors can easily view the property on any laptop, tablet, or smartphone without needing additional software, offering a significant advantage. Another huge advantage with remote assessment is by removing the need for dangerous work. In scenarios where properties are inaccessible or hazardous, digital twin can allow for remote damage assessment, which is crucial for evaluations.
Enhanced Efficiency
By eliminating the need for travel and repeat visits, digital twins reduce documentation costs. This improved efficiency streamlines the claims process for all parties, ensuring faster resolution and quicker property repairs. This efficiency means smoother experience for property owners, speeding up the entire process.
Digital twin & Property Insurance: Key features
Data Tags
Data tags are a powerful digital twin feature during an insurance claim. These clickable ‘hot spots’ can be placed anywhere within the digital twin. Data tags provide clarity and further information on the extent of damage, including how and when repairs are taking place. Data tags can include text, audio, images, or video, making them a powerful tool for collaboration and information sharing.
Schematic Floor Plans
Upon completion of a digital twin, you can request schematic floor plans of the entire property. Giving you an accurate layout of the building. This is a vital asset for insurance providers, offering a full understanding of the property before restoration. It allows them to view accurate room measurements, ensuring informed decisions prior to any restoration work.
The measurement tool
The measurement tool allows users to take quick and accurate measurements, anywhere in your digital twin. For example, a user may wish to know the measurements of a door frame in order to replace the door. With the measurement tool, you can select multiple points to measure, calculate the area, and save the measurements for later use. The measurment tool is an incredible help when recording damages to a property. In short, the measurement tool saves time and reduces the need for unnecessary travel.
Outputs
Depending on the requirements of the user, the digital twin can be exported into various outputs. For example, having both schematic floor plans and a point cloud output greatly benefits an insurance company. Floor plans provide an understanding of the property layout. The point cloud offers highly accurate measurements of each room’s details.
A digital twin provides a complete overview of the information needed to settle an insurance claim. It ensures that all output requirements are met, giving you the information necessary for accurate claim resolution.
Conclusion
A digital twin is a valuable asset for any insurance adjuster. Using a digital twin saves time, reduces costs and eliminates mistakes by providing a comprehensive view of the property and it’s condition. With a digital every aspect of property restoration, insurance and development is more streamlined. Highly accurate reality data capture saves costs and ensures an efficient processing of a damage claim.
We hope that you have found this article helpful.
If you would like to learn more, or would like a no-obligation quote for your project, please get in touch with a member of our friendly team by contacting us today.