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Why is accuracy and safety of inspections important in corporate insurance and can VIEWAPP provide it?
12.09.2024

Corporate insurance is mostly faced with a complete lack of digitalisation in the area of inspections, and this is an acute issue, as the transition to digital technology is accelerating everywhere: the evolution of the market requires this level of service. While digitising inspections for individuals, leaving corporate insurance without innovative modern technologies is simply illogical and doomed to failure.


VIEWAPP has long been familiar with this problem and has found a super solution for it, which allows insurers to get full digitalisation and automation of any of their inspections, both for individuals and for the corporate sector.


Accurate and secure inspections are important in any insurance, after all, individuals also send significant items such as country houses, flats and prestige cars worth millions for insurance. However, in corporate insurance it acquires even more weight: let us remind you that corporate insurers deal with


- Plants

- Production lines

- Fleets of special machinery

- Aircrafts

- Helicopters

- Yachts

- Shops and many other facilities.


Any inspection in the insurance industry, whether corporate or individual, has its own peculiarities and a number of requirements that are quite difficult to comply without a digitised and automated inspection process. And if the inspection is done incorrectly, it will have to be redone, which means a loss in everything: time, finances, and customer loyalty.


The second aspect, which is even more important than compliance with regulations, is to ensure the safety of the inspections, i.e. not to admit to insurance objects that do not meet the insurer's criteria or that have been falsified by fraudsters. After all, even one such ‘missed’ object can bring the company millions of losses, for example, a burnt warehouse, accepted with falsified fire safety measures or with erased defects-damages not admissible for insurance. Modern technology in the form of artificial intelligence allows fraudsters to substitute photo and video materials, of course, if they are not countered by a security system such as VIEWAPP.


VIEWAPP,

  •  Firstly, it performs digital inspections according to pre-formed scenarios that take into account all insurance company regulations.

  •  Secondly, it ensures the authenticity of these inspections by checking the checksums of materials, checking geolocation, checking the planned inspection with the actual one, checking the indications of various sensors and other secret combinations.


Thus, VIEWAPP's digital inspections comply with insurers' inspection regulations and prevent attempts to penetrate the insurance of objects with proven suspiciousness on various grounds.


Digitalisation of inspections using VIEWAPP brings the following key benefits to corporate insurance:


1. Increased accuracy and reliability of data. Automating inspections minimises human error and ensures that all parameters are recorded correctly. This is especially important for facilities that require careful assessment - such as factories, production lines, and air transport, among others.

2. Reduced inspection time. Adopting digital technology speeds up the inspection process, allowing insurers to make decisions and award contracts faster. This helps companies respond quickly to customer requests and improves overall operational efficiency.

3. Reducing fraud risks. The VIEWAPP system provides rigorous data authentication through checksum reconciliation, geolocation and sensor analysis. This prevents falsification of information, dramatically reducing the possibility of properties with hidden defects or irregularities being accepted for insurance.

5. Increased customer trust and loyalty. Quick and accurate inspections without the need for additional checks and corrections enhance the reputation of the insurance company as a reliable partner

6. Saving resources. Reduction of inspection costs, absence of repeated inspections and reduction of possible insurance incidents due to accurate inspection of objects help companies to save financial and human resources, as well as minimise losses from potential insurance events.

Thus, the implementation of the VIEWAPP system not only improves the quality of inspections and reduces risks, but also increases the competitiveness of insurers in the corporate insurance market.