23 August 2019 13:30
The hurricanes in 2016 and 2018 have pushed the american division of the reinsurer Munich Re to develop a tool for automated detection of the damage caused by these events.
“The hurricanes from 2016 to 2018 have resulted in a high volume of claims, a shortage of experts in claims and adjustment expenses claims higher for the insurance companies. The resolution of the claims has been delayed for many of those who have been affected, indicates Novel Buegler, director of the LAB., Munich Re. Our new range of tools uses cutting edge technology to help insurance companies improve the customer experience and free up the adjusters to enable them to manage claims serious or complex, while allowing the prompt resolution of claims more straightforward. “
Predictions 4 days before the hurricane
These tools, available to the insurers, allow us to make predictions “highly detailed” damages four days before a hurricane, give an aerial view immediately after the event, often before the experts in disaster can arrive on the scene and evaluate the damage using the learning algorithms by machine ” for insurers to be able to know where are the losses and their severity, before the insured is not aware of it “.
“Unfortunately, disasters more frequent and more extreme became the norm. Our industry can no longer rely on the way we have always reacted to hurricanes. Capabilities of remote sensing is a way of improving our practices to our policyholders at a time when they most need us, ” said Mr. Buegler.
These tools are only available in the United States, the Bahamas and the Cayman Islands.