An Australian firm has announced that it will launch industry first geo-radar technology in a bid to improve claims outcomes for clients and the industry.
Censeo will use the cutting-edge technology, which combines high and low frequency signals for underground viewing without the need for invasive excavation, following a successful trial as Kate Middleton, CEO of Censeo, said that the technology will help expedite claims.
“The traditional loss adjusting and building consulting approach hasn’t really changed in the last 50 years,” Middleton told
Insurance Business. “It is quite manual and very beholden on the skills and knowledge of the individual inspecting the property. Obviously everyone is highly skilled so we are not discounting that, but there isn’t a whole lot of science – particularly in those more complex claims.
“How we see the Geo-Radar working is in conjunction with building consultants, engineers or loss adjustors, to provide some science and some actual data to qualitatively identify what is happening.”
Middleton highlighted that Censeo has partnered with global leaders in the technology, IDS Geo-Radar, and becomes one of the first firms in the world to use the technology in the insurance industry. She believes it will allow insurers to more efficiently assess claims across a number of areas and lower costs as less specialist involvement is required.
She highlighted that with an escape of liquid claim, for example, Geo-Radar technology can be used in the first instance to determine any damage or repair work needed rather than passing through an assessor, plumber and leak detection specialist.
The technology is also set to be utilised in disaster response.
“The use of various radars in disaster response can help assess any ground movement, so it’s technology that is crucial in assessing whether an area is safe after a disaster like large fires, landslides, cyclones etc,” Middleton said.
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