Kathmandu. There was a time in the world market when the customer had to wait for the insurance company in case of an accident or damage. A surveyor would arrive at the scene, inspect and prepare a report. Then they would start with paperwork and long waits. In many cases, this process took anywhere from 7 to 14 days to complete. But now that scenario is changing rapidly. <\/p>\n
‘Remote Claim Assessment’ is becoming popular all over the world. Simply put, it is a digital process. Where customers send images, videos or live information from their mobile phones. This information is then analyzed using artificial intelligence (AI), computer vision, and automation systems. As a result, in many cases, claims are being paid within hours or minutes. <\/p>\n
According to experts, this is completely changing the way the global insurance sector works. Previously, surveyors had to go to the site to submit a report. Now the entire process is done on a digital platform. According to a global analysis, when a digital insurance claims system is implemented, the claim processing time drops by an average of 70 per cent to 90 per cent. <\/p>\n
This change is clearly reflected in the customer experience. Previously, insurance claims often had to wait weeks after an accident. But now they are resolved within 24 to 48 hours. In some cases, the use of AI-based straight-through processing is allowing claims to be approved automatically without human intervention. <\/p>\n
According to various insurance and insurance industry analyses from around the world, remote claims assessment is already widely used in many developed and emerging markets such as the US, UK, Germany, Japan, China, Australia and India. Overall, industry reports indicate that more than millions of insurance claims have been settled through this digital process and the number is steadily increasing. <\/p>\n
Why is gaining popularity so fast? <\/strong><\/span><\/p>\n There are three main reasons for the rapid popularity of remote claims evaluation: time reduction, cost reduction and process simplification. Earlier, a normal claim resolving took 7 to 14 days, but advanced systems have now reduced this time to 24 to 48 hours. This ensures faster compensation for customers and reduces operational pressure on insurance companies. <\/p>\n Major changes to customer experience<\/strong><\/span><\/p>\n }<\/p>\n This technology has also significantly transformed the customer experience. Customers can now track their claim through a mobile app. They can see their location and position in real time. In most cases, payments are completed online. International market analysis shows that digital claims systems increase customer satisfaction and reduce complaint rates. <\/p>\n <\/strong>{TAG_CLOSE_span_42}}<\/p>\n }<\/p>\n Many technologies are at the heart of this system. The AI is used to analyze the images and provide initial damage estimates. Computer vision recognizes detailed information from those images. <\/p>\n Drones are used to assess damage without having to visit large areas or remote locations directly. Similarly, in the case of natural disasters such as floods or cyclones, satellite imagery can be used to capture damage across the entire region. All of these technologies together make the claims assessment process faster, easier, and more accurate. <\/p>\n Cost also declining<\/strong><\/span><\/p>\n }<\/p>\n This has brought about a significant change for insurance companies. There has been a significant reduction in field trips, vehicle use and logistics costs. According to various industry reports, the claim handling cost has decreased by 30 percent to 50 percent. As a result, companies are able to serve many customers at the same cost. <\/p>\n Real picture of fraud risk{<\/strong><\/span><\/p>\n }<\/p>\n Initially it was believed that remote claim processing could increase the risk of fraud. But, in reality, the opposite is true. It is now being used for geo-tagging, time-stamping, metadata authentication, and AI-based fraud detection. This makes it easy to verify where and when the photo or video was taken. According to experts, this has made fraud detection more effective than ever before. <\/p>\n Environmental impacts<\/strong><\/span><\/p>\n Remote claims assessment is also having a positive impact on the environment. Reducing overseer trips reduces vehicle use and fuel costs. ESG analysis shows that CO\u2082 emissions can be reduced by about 8 to 10 kg on average if each claim is processed digitally. <\/p>\n Markets & Futures<\/strong><\/span><\/p>\n The use of digital claims systems is growing rapidly in the global insurance market, especially in Asia, Europe, and the Americas. Remote claim evaluation is expected to become a common practice in the insurance industry in the next few years. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. There was a time in the world market when the customer had to wait for the insurance company in case of an accident or damage. A surveyor would arrive at the scene, inspect and prepare a report. Then they would start with paperwork and long waits. 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