The Relationship between AR Tech and Insurance

Augmented Reality (AR) is a technology that involves the use of digital content such as music, text, video and pictures to enhance a real world environment. It is important to point out that this technology does not entirely replace the real world like the virtual reality technology. In this case, a mobile device is normally used to deliver real-time information. The AR technology can be used in the insurance industry because of the many opportunities that it’s many applications present. Augmented reality has the potential to completely transform the insurance industry. Insurance policy holders are in a position to get a better view of the real world on a live screen containing computer generated information. Indeed, the AR technology has become easily available because of the many mobile devices that are currently owned by consumers.

AR and Insurance Policy Management

The number of insured individuals that use tablets and smartphones has grown over the years. This, therefore, presents insurance companies with many opportunities to come up with mobile apps that can be used in claims filing and general policy management. It is now possible for insurance companies to develop AR apps for both potential and existing policyholders. In addition, users can view the risks associated with different objects from the comfort of their homes using a camera on their tablet. An on-screen simulation is generated by the app and the user is able to view an object with its associated risks. As a result of this technology, policyholders may be challenged to review their coverage because of the memorable imagery that they are able to relate with. Further, the AR technology makes it possible for users to update or renew the insurance policy of their vehicle by only pointing a smartphone at the vehicle.

How AR can Benefit Insurance professionals

Insurance professionals can benefit from the AR technology especially when they are working in the field. The environment of an insurance professional in the field can easily be recorded and analyzed in real-time using AR apps making their work much easier than it was before. It is possible to inspect the damage in case of a vehicle accident using an AR app. In an instance where there is a damaged car, the AR app takes a real-time virtual image of the car and provides vital information such as free insurance quotes for dent damage detection as well as damage area measurements. Such information is very useful to an insurance company because it makes it possible to process claims fast and improve the customer experience in general.

AR Technology in Training Insurance Professionals

Insurance companies can use the AR technology to train their employees in management of the different aspects of insurance policies. There are some insurance companies that are already taking advantage of the many opportunities that come with the AR technology. AR smartphone apps are currently being used by insurance companies across the country to train its managers in critical areas such as people management skills, project management as well as coaching. It is possible for managers in insurance companies to access books with in-depth information, online training courses or video by simply pointing their smartphone on a learning card or poster that directs them to the resources. The AR apps are in most cases suitable for classroom-based training sessions. The technology is very effective in helping organizations meet their training needs that may be unique to their managers such as kinesthetic, writing, oral, and visual needs. New employees in insurance brokerage firms can be introduced to different aspects of insurance brokerage using the AR technology such as basic office tours. The AR apps provide an in-depth engagement with their trainers. Through these apps, new employees are able to learn about the different customer service perspectives and workflow efficiency.

It has always been the desire of most consumers in the modern insurance market to conduct paperless transactions. Indeed with the AR apps, the insurance companies will transition into a paperless dispensation. AR technology will continue to shape the operations of most insurance firms in the near future because of the many opportunities its presents.

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Carol M. Evenson

Data Security Consultant at Evenson Corporate Consulting
Carol Evenson is a data security consultant specializing in cloud management and process analysis. She currently assists organizations within the continental US and UK.
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