Property intelligence provider Arturo has introduced its Change Detection technology for insurers, with an aim to enhance the process of tracking and evaluating property changes.
The technology employs artificial intelligence (AI) and geospatial imagery to pinpoint critical alterations on properties, such as roof wear or the addition of new structures.
This proactive method allows insurers to foresee potential risks, guarantee appropriate coverage, and enhance service to policyholders.
Arturo’s Change Detection technology offers a comprehensive solution for detecting a wide array of property changes.
This ensures that insurers have access to precise and current data for underwriting, risk management, and claims processes.
Its real-time risk monitoring, integrated seamlessly with policy information, empowers insurers to make informed adjustments to coverage promptly.
Arturo CEO Marty Smuin said: “Arturo’s Change Detection technology allows insurers to make faster, more informed decisions, mitigate risks earlier, and ultimately provide better services to their customers by preventing coverage gaps.
“We are excited to introduce this cutting-edge solution to the insurance industry.”
The technology also optimises premium management. Insurers can now adjust premiums in response to significant property changes, preventing loss of revenue and upholding equitable pricing.
Moreover, by spotting vulnerabilities early, insurers can proactively reduce risks before they result in expensive claims.
Arturo further notes that the underwriting process is streamlined with its Change Detection technology, cutting down the dependency on manual inspections.
Insurers can also take quicker underwriting decisions with accurate and timely data.
“Arturo launches AI-driven Change Detection technology for insurers” was originally created and published by Life Insurance International, a GlobalData owned brand.
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