by Scott Lacourse | Aug 14, 2024
A recent article on Propertycasualty360.com discusses how buying AI solutions is generally a far better option than building them in-house.
In the rapidly evolving world of property insurance claims, digital transformation is not just a buzzword—it’s a necessity. The integration of artificial intelligence (AI) into this sector promises to revolutionize the way claims are processed, making them faster, more accurate, and more efficient. However, the journey to fully operational AI systems can be fraught with challenges, particularly around the cost and complexity of development. This is where partnering with an experienced guide can make all the difference.
The True Cost of Building AI
Building AI from scratch is a formidable task. It requires significant investment in data collection, processing, and management. Then there are the costs of hiring specialized talent—data scientists, AI engineers, and software developers. Beyond personnel, there’s the expense of the necessary infrastructure, such as high-performance computing resources and storage solutions.
But the monetary costs are just the tip of the iceberg. Time is another critical factor. Developing a robust AI system can take years of research, development, testing, and iteration. During this period, the technology landscape continues to evolve, potentially making some solutions obsolete before they are even deployed.
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The Advantages of Partnering
Given these challenges, partnering with an experienced AI provider is a strategic choice for many companies in the property insurance claims space. Here’s why:
- Access to Ready-Made Data: One of the most significant barriers to developing AI is obtaining high-quality, relevant data. As your AI sherpa, we already have the data you need. Our extensive datasets are tailored specifically to the property insurance claims industry, ensuring that your AI solutions are built on a solid foundation.
- Expert Guidance: Navigating the AI landscape can be daunting without the right expertise. Our team of experienced professionals acts as your guide, helping you make informed decisions at every step of your digital transformation journey. From initial strategy development to final deployment, we ensure that your AI initiatives are aligned with your business goals.
- Accelerated Development: By partnering with us, you can bypass much of the lengthy and costly development process. We offer pre-built models and solutions that can be customized to meet your specific needs, significantly reducing the time to market.
- Scalability and Flexibility: Our solutions are designed to scale with your business. Whether you are looking to implement AI on a small scale initially or plan a large-scale rollout, we provide the flexibility to adapt to your changing requirements.
- Ongoing Support and Maintenance: Implementing AI is not a one-time effort. It requires continuous monitoring, updating, and optimization to ensure it delivers the desired results. As your partner, we provide ongoing support to keep your AI systems running smoothly and effectively.
Your Path to Digital Transformation
In the competitive world of property insurance claims, staying ahead means embracing digital transformation. By partnering with an experienced AI provider, you can leverage our data and expertise to unlock the full potential of AI without the prohibitive costs and complexities of building it yourself.
We are here to be your AI sherpa, guiding you through the intricacies of AI development and implementation. With our support, you can achieve faster, more accurate claims processing, improve customer satisfaction, and ultimately drive business growth.
The future of property insurance claims is digital, and we are here to help you navigate the path to success.
by Scott Lacourse | Jul 17, 2024
A recent article in Forbes discusses how in the rapidly evolving insurance industry, selecting the right technology partner is crucial for success.
Here are seven essential questions to guide your decision, and Plnar’s responses to these important decision making questions!
1. Does the partner have industry experience and expertise?
Yes, Plnar’s Smartphone imagery platform powered by AI was developed in 2012. It has been battle-tested by various size carriers (Top 3, Top 10, Top 50, etc.) in multiple CATs (Catastrophic Events) and has been used for years in daily claims. Over 40 carriers currently use Plnar, demonstrating its extensive industry experience and expertise.
2. Is the technology transparent and explainable?
Yes, Our technology is transparent and explainable. There is no “man behind the curtain” at Plnar. We can quickly demonstrate our full process, ensuring ease of use and clarity for customers.
3. Is the solution adaptable?
Yes, Our solution is highly adaptable. We can integrate with any carrier at any point in the claim process. It is already being used at scale by 3 Top 10 Carriers at FNOL (First Notice of Loss) and 40 other carriers. Plnar integrates with any estimatic platform, showcasing its flexibility and adaptability.
4. Does the provider offer comprehensive support and continuous improvement?
Yes, We offer comprehensive support and continuous improvement. Plnar has customer support and customer success teams that guide customers through the process and address any issues. Additionally, our voice of the customer team continuously listens for ways to improve the service.
5. Is the technology effective?
Yes, Our technology is effective. Its accuracy has been independently lab-tested, ensuring high standards of performance. Our technology is robust, brandable, patented, and configurable, catering to various needs from simple to complex claims.
6. Is return on investment demonstrable?
We can demonstrate a significant return on investment. We can illustrate tremendous ROI, especially when implemented at FNOL, by providing faster, more accurate claim estimates, reducing the need for onsite visits, and minimizing claim cycle times and costs.
7. Is the tech provider a trusted advisor?
Plnar is your AI sherpa, here to guide you through the digital claim transformation process. With a proven track record of successful integrations and implementations, robust support, and a focus on continuous improvement, we build trust with their clients by delivering reliable and effective solutions
Choosing wisely can make all the difference in driving efficiency, enhancing customer experience, and staying competitive.
by Scott Lacourse | May 1, 2024
In today’s fast-paced digital world, the insurance industry is undergoing a significant transformation, driven by the adoption of advanced technologies. However, many insurance companies still grapple with outdated legacy systems that hinder their ability to embrace digital claim transformation fully.
Fortunately, there’s a solution: the revolutionary Plnar self-service claims and inspection platform. Plnar’s AI Platform powered by Smartphone imagery, delivers end to end digital claim transformation regardless of the claim systems they utilize.
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Powered by AI, this innovative platform offers seamless integration with all major estimatic systems, eliminating the need for extensive development efforts from carrier teams. Setup is a breeze, completed by Plnar in just a matter of days, allowing companies to swiftly transition to a modernized claims process. What’s more, training for this industry-leading platform is incredibly efficient, with users becoming proficient in less than an hour.
At the heart of this platform lies patented smartphone imagery technology built into our easy-to-use Snap App, available for iOS and Android devices. Snap empowers anyone to gather precise claim information with unprecedented ease. With just a smartphone, policyholders, claims adjusters, or field professionals can capture high-quality images and videos of the interior and exterior spaces in minutes. Gone are the days of cumbersome site visits and manual measurements.
Plnar’s imagery-first platform goes beyond traditional claim documentation by providing accurately measured 3D interactive models, 2D schematics, and meticulously organized photos that are tagged with damages. This immersive experience allows users to virtually step into the space, gaining a comprehensive understanding of the property and damages without ever leaving their desks. Floorplans of each elevation provide additional context of the space. Our SmartPix technology enables portal users to automatically turn each photo captured via the Snap app into a measurable canvas – including structures and contents.
In addition to its user-friendly interface and advanced imaging capabilities, the Plnar platform seamlessly integrates with other essential claim systems. It automatically imports all Plnar assets into industry-standard platforms like Verisk and CoreLogic, ensuring data consistency and eliminating the need for sketching the space and other manual data entry needs.
After over 100 rollouts across 40 plus carriers, we have learned the most important benefit of a virtual claim solution is the ability to write a precise estimate from the documentation, without supplements or the need for an onsite visit.
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By embracing the Plnar self-service claims and inspection platform, insurance companies can overcome the limitations of legacy systems and propel themselves into the digital age. With its intuitive interface, powerful AI capabilities, and seamless integration, this platform is revolutionizing the way claims are processed and inspected, setting a new standard for efficiency and accuracy in the insurance industry.
by Scott Lacourse | Aug 24, 2023
AUSTIN, TX, USA, August 24, 2023 — Plnar, the Leading AI-Powered Self-service Virtual Inspection Provider for the Property Insurance Market today announced a new Virtual Desk Estimation as a Service Solution. “Plnar Complete” delivers a completed estimate from a Plnar enabled self-service inspection. It is now easier than ever for Carriers to realize the massive expense reductions associated with Virtual Claims without impacting estimate accuracy or supplement rates.
The increase in claim volume, service fees, and scarcity of adjusters equipped to write estimates is driving the need for a policyholder self-service solution. It’s a key strategy for long term expense reduction, and a crucial step for the transformation to digital claims. Since 2020, Plnar has worked with over 40 Carriers and TPAs to deliver photos, reports and 3D models to their adjusting resources so they can create accurate estimates. Now we can provide estimates derived from a Plnar self-service inspection, faster, and cheaper than sending someone onsite, with the same level of accuracy.
Plnar Complete is a quick and easy way to enable virtual claims whether you have a desk team and want to expand capacity or if you are new to virtual claims and don’t have desk team who can write estimates. Plnar Complete closes the loop on digital claims, establishes the first true end-to-end interior claim solution and provides a quick start virtual claims capability to all carriers.
Plnar Complete integrates with XactAnalysis and CoreLogic at FNOL. Policyholders easily document the loss site in about 60 seconds per room, and a suggested estimate is created and checked by a licensed adjuster. The estimate, and all supporting documentation, is then available for your adjuster’s review and approval in their estimatic solution.
Virtual Desk Estimation as a Service
• Reduces Loss Adjuster Expenses
• Avoids Estimation Bottlenecks
• Reduces Cycle Time and Increases Policyholder Satisfaction
“We leverage the latest generative AI, computer vision and machine learning technology to create solutions that are simple for anyone to use and eliminate much of the mundane work associated with handling claims.” said Plnar CEO Andy Greff. “Carriers have been asking for an easy to adopt virtual claims solution that gives them a roadmap to claims automation.”
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About Plnar
Plnar is an InsureTech software provider transforming the insurance claims process by enabling virtual inspections for interior property claims for significantly better customer experiences, shorter cycle times and lower costs. Plnar’s patented technology platform gives desk adjusters the power to generate accurate 3D models of interior spaces as well as identifying damages, materials and contents automatically from digital photos. Plnar streamlines the claims process for quicker, more efficient settlement. You can learn more about us by visiting plnar.ai
by Scott Lacourse | Aug 10, 2023
Since the pandemic, the nation’s labor market has been stifled by staffing shortages, and the insurance industry certainly has not been insulated from this issue. Much like a catastrophic “perfect storm”, last year’s “Great Resignation” combined with an aging workforce, created historic shortages for carrier staffing.
The addition of new staff is accompanied by a range of problems:
- Difficulties finding talent
- Training new talent quickly to alleviate pre-existing bottlenecks
- Retaining quality talent when other carriers are competing in a small labor pool
During the pandemic, people turned to Plnar’s virtual inspection capabilities. Plnar ensured policyholders were quickly made whole again when inspecting losses onsite with field teams became nearly impossible. Plnar’s scale has been battle tested during Catastrophes and our claim solution continues to advance up and down the claim stack. Adjusters love our assets and the speed at which we provide them. This is all made possible by policyholders taking pictures with our easy-to-use app – approximately 90 seconds per room!
Even though we can deliver our accurate schematics, 3D models, floor plans, and measurement reports within a day, the bottleneck still exists for carriers. There continues to be a shortage of adjusters who can write estimates at the desk.
We are introducing a solution that will alleviate the bottleneck completely – with our aptly named new product offering, Plnar Complete. This start-to-finish Virtual Desk Estimates as a Service extending the benefits of virtual estimations to all severity and size claims for all Carriers.
Plnar Complete closes the loop on virtual claim handling, establishing the first true end to end interior claim solution. The process begins at FNOL and within 3 business days, a suggested estimate, written by a licensed adjuster, is imported into Xactimate or CoreLogic*, and made ready for your adjuster’s review and approval.
- Reduce Loss Adjuster Expenses
- Avoid estimation bottlenecks
- Reduce cycle time and increase policyholder satisfaction
Leveraging generative AI, computer vision, and a team of brilliant minds, Plnar strives to create solutions that are simple for anyone to use. We support adjusters by providing a means to virtually triage claims, achieve industry leading measurement accuracy, and gain instant visibility into claims. We have augmented our tech stack through strategic partnerships with licensed adjusters who possess extensive experience writing interior estimates directly from our assets.
Reduce Loss Adjuster Expenses – Capitalize on the benefits of virtual to reduce travel expenses. The costs associated with W2 field staff, Independent Adjusters, Third Party Admins, travel expenses, and the cost of settlements all contribute to increased on-site costs. Plnar Complete eliminates the necessity of sending anyone on-site, while still yielding estimates as accurate as leveraging onsite staff. Additionally, supplement rates using Plnar remain within industry norms.
Avoid estimation bottlenecks – Plnar Complete is highly scalable and can be readily available for both daily claims and to assist with overflow during CAT events.
