Computer Vision in Insurance: Claims Processing Made Easy
Chase Hart | June 27th, 2022
Even as the big name insurance companies digitize much of the customer facing claims process, many homeowners know it remains a tedious process. While claims can now be submitted online or through a mobile app, the actual review and approval process is still done manually.
Once a claim is submitted and assigned to a claims adjuster, they review the photos or video submitted, but often also require an in-person visual inspection, and when you consider how many claims large insurance companies receive, you can imagine how much time this adds to the process. Automating this step with object detection and recognition technology is precisely where modern video analytics software makes a measurable difference.
This is where computer vision comes in. Using Matroid’s no-code computer vision software, insurance companies are able to upload images depicting a wide range of damage and train the model to detect the specific defects they are interested in, from stress cracks in the foundation to water damage. If you can see it, the model can too, making DIY AI model creation a practical reality for insurance teams.
Models can be developed according to the specific requirements laid out in the insurance policies and trained in-house, putting AI for non-developers directly in the hands of claims teams. Simpler claims can be handled by the visual inspection system automatically, freeing up adjusters to focus their time on more complex cases and ultimately speeding up the process for everyone.
Example of car damage being detected by Matroid
Building detectors for insurance-related use cases is one of many examples of Matroid helping to automate visual inspection systems in industrial IoT, supporting data-driven decision making and improving operational productivity while minimizing costs. To learn more about how Matroid’s no-code computer vision platform could help your team, get in touch with us today.
FAQ’s
Computer vision automates the visual inspection of submitted photos and videos, using object detection and recognition to identify damage types such as water damage, cracks, or structural issues. This accelerates claim review and reduces dependency on manual adjuster inspections.
No. Matroid is designed for AI for non-developers, meaning claims teams, operations managers, and underwriters can train and deploy custom visual detectors in-house, without needing a data science background.
Matroid’s models can be trained to detect virtually any visible defect, from stress cracks and water damage to structural deterioration and material failure. The DIY AI model creation process lets insurers define exactly what the model should look for, based on their specific policy requirements.
Yes. By using consistent, automated visual inspection systems to evaluate claims, insurers can establish a more objective and auditable review process, making it easier to flag inconsistencies that may indicate fraudulent submissions.
Matroid’s video analytics software and detector deployment infrastructure are built to scale, supporting high-volume claims environments where speed, consistency, and accuracy in data-driven decision making are critical. Request a demo at matroid.com/get-a-demo/.
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