"Industry use of photos for method ofinspection has been growing and insurers are seeing benefit to bothcycle time and customer satisfaction," Susanna Gotsch, director,industry analyst, CCC, said in a statement. (Credit: create jobs51/Shutterstock)
Photo estimates and artificial intelligence-supported claimshave expanded at a record pace, exceeding double-digit growth sincethe beginning of the year, according to CCC Information ServicesInc. The rapid adoption of digital technology is in direct responseto social distancing and work-from-home protocols initiated to combatCOVID-19.
|CCC industry data shows that the insurance industry recentlysurpassed 3 million estimates initiated leveraging photo technologysince tracking began in 2018. The company also reports that thepercentage of claims processed through CCC Quick Estimate, thecompany's mobile photo estimating solution, has more than doubledfrom January to April this year as carriers are accelerating theuse and adoption of digital tools in response to COVID-19. CCC alsoreports a similar trend in estimates written using CCC SmartEstimate, which applies AI and estimating logic to photos capturedwith Quick Estimate.
|CCC's analysis centered around automobile claims.
|
(Photo: Courtesy of CCC InformationServices)
The graphic shows that the percentage of claims that use photosas the method of inspection is growing.
- Digital-driven carriers used photo technology as the method ofinspection for 65% of their claims in May, up from 63% inFebruary.
- Digital-enabled carriers used photo technology as the method ofinspection for 11% of their claims in May, up from 6% inFebruary.
- Digital-forward carriers used photo technology as the method ofinspection for 41% of their claims in May, up from 35% inFebruary.
"Industry use of photos for method of inspection has beengrowing and insurers are seeing benefit to both cycle time andcustomer satisfaction," Susanna Gotsch, director, industry analyst,CCC, said in a statement. "The recent spike is likely indicative ofa new normal as we're seeing greater use of digital by carriersthat have been in market and new insurers coming online with digitalsolutions."
|Related:
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