iNube’s Live Video Streaming Solution Accelerates Settling Of Auto Insurance Claims

Making contactless insurance processes a reality in the new normal, digital insurance solutions provider iNube’s live video streaming solution has come to the rescue of both insurance companies and their customers. Facilitating on-the-spot video inspection and virtual surveys, it eliminates the need for any in-person meetings between the customer and the insurance provider. Built on Microsoft Azure, the solution helps insurance companies collect data from their customers, such as images, videos, and audio clips. The solution can also gather evidence for claim settlement, through geo-tagging, as well as time stamps from the customer’s location. Capable of processing up to 1500 live streams per day, the solution can be used seamlessly over both web and mobile interfaces with insurance providers across the world.

Faced with customers who were unwilling or hesitant to meet in person during the pandemic, insurance companies had a tall order completing processes within timelines, be it for buying new policies, renewals, or claim settlements.  Underwriters, inspectors and claims managers faced disruption at work. Digital platforms became the de facto choice for insurance companies as they shifted from printing and scanning reams of paper to online forms, e-signatures, and document collection.     

To help insurance companies operate efficiently in the new normal, iNube offers an innovative digital insurance solution to connect insurance companies with their customers for core processes. The live video streaming solution comprises of a mobile application (for B2B customers) and a web application (for B2C customers). The solution captures images, videos, and audio clips from customers and sends them to the operations team as evidence. The insurer uses the solution to document relevant information and prepare reports for customer queries.

“Technology is playing a critical role in transforming every aspect of the insurance business. Today, insurance providers recognize the need for accelerating their digital journey to ensure they remain competitive. iNube’s solution built on Microsoft Azure is enabling insurance companies process claims in an agile and contactless format. In the new normal, when businesses and customers are engaging remotely, the live video streaming solution is helping meet customer demands without compromising on service excellence,” said Vinodkumar A Iyer, Chief Executive Officer, iNube.

Leading insurance companies in the country are using iNube’s solution to engage their customers through the pandemic and continue to operate seamlessly. Insurance providers have reported lowering their annual operational costs by 50% owing to significant reduction in infrastructure investments. The solution enables insurance companies to act on real time information from the field for quick decision making and reduces the response time for addressing customer requirements by almost 70%. It can be easily integrated with existing IT systems of insurance providers and can scale up or down, according to the requirements of the insurance companies. With Azure Cognitive Services, the solution will support functionalities like Optical Character Recognition (OCR) and Text-to-Speech helping insurance companies capture, manage, and utilize customer data securely and efficiently.

Currently, iNube’s live video streaming solution is being used primarily by auto insurance companies with focus on inspection, claims investigation, and damage assessment. Apart from helping in mitigating fraud, the solution can also be effectively used by life and health insurance companies to fast-track verification of patients and approval of COVID claims.