18 Feb How A 3D Digital Twin of Your Home Could Be The Saviour For Your Insurance Claim
The Need for the 3D Digital Twin: The Arrival of the Rainy Day
If you lost your home, how easy would it be to provide your insurance company with a complete and comprehensive inventory of all your major appliances, electronics, artwork, and furniture? Well now 3D mapping technologies are providing a powerful way to take a snapshot of your home for safe keeping!
In Australia, we know all too well that natural disasters and adverse weather events are a common part of the world we live in. In the recent Townsville floods, almost 15,000 insurance claims were lodged in a matter of days. As part of lodging a Home and Contents insurance claim, the challenge is for homeowners to provide the Insurance company with irrefutable documentation and evidence of the major valuable items that were lost in the event.
The Cold Hard Reality: Home and Contents Insurance will only protect what we can prove we have
Whether we like it or not, the burden of proof falls to the insured party to provide documented evidence of possession and the condition of the damaged items prior to the damage or loss having occurred. It is akin to needing to take the insurance company back in time and take them through your house!
Well, now you can….
Cutting-edge 3D internal mapping technologies are now providing home owners with a snapshot in time of their home internals that may one day provide an invaluable source of truth when lodging an insurance claim for a major destructive event. By obtaining a “digital twin” of their home, homeowners as well as renters can now have piece of mind of knowing they have an inventory of their home and proof of ownership, condition, age and location of their important items.
3D Digital Twins and Our Homes in Virtual Reality
In addition to having our home virtually frozen in time, many of these 3D “digital twins” are able to be walked through in Virtual Reality, meaning that side-by-side comparisons of original with current condition can be performed in an immersive fashion. Capabilities like Virtual Reality are proving extremely valuable, particularly in situations where significant but not total damage has occurred, such as assessing the before and after effects of water damage on the overall building structure.
The Emergence of the 3D-Armed Smarter-Insured
For some time now, insurance companies have been battling with a more sophisticated customer base, with potential customers now skilled at leveraging powerful new channels like social media to ensure they get the lowest premium and highest value policy. This increased pressure has meant that insurance companies are becoming need even more prudent with claim assessments to ensure profitability is maintained.
Technology is continuing to uncover innovative ways to ensure our insurance companies provide the right cover and are held to pay out their customers’ claims. 3D digital twins and Virtual Reality are now allowing us to keep a copy of our home in a digital filing cabinet for safe keeping, meaning that in the unfortunate event of needing to lodge a claim, we are well armed to ensure our we can provide the rock-solid evidence to back us up.
As Insurance companies continue to strive for further ways to protect their own exposure, so to are home owners and renters looking for new ways to ensure their home contents and effects are well documented in case of the arrival of that rainy day.