Insurtech specialist Coverhero has launched Lucci, a new insurance tool offering 3D aerial imaging of properties to provide tailor-made, real-time insurance policies in milliseconds.
Lucci is powered by Cloud Cover and Smart Underwriting Engine (SUE). Cloud Cover can instantly answer questions on a customer's behalf.
Naby Mariyam, the chief executive officer and founder of Coverhero, commented: “Using 3-D aerial imaging and cloud-based technology, Lucci is instant and incredibly accurate, helping businesses scale-up and grow their customer base by fully digitalising and embedding insurance.”
Coverhero claims the new tool is the first home insurance API to have decarbonisation at the policy's forefront. It was designed to work towards the Paris Climate Agreement net-zero policy, with each policy offsetting at least 11 tonnes of carbon emissions.
Mariyam stated that Lucci's data-driven approach could save the industry a whopping $16 billion a year in loss adjustments by reducing discrepancies at the point of claim, which is beneficial for the insurer processing claims and the overall customer experience.
“This product was designed to work towards the net-zero emissions Paris Agreement. Every Lucci policy will offset at least 11 tonnes of carbon emissions, making it the first home insurance API to put decarbonisation at the forefront of its policies. I strongly believe the financial industry needs to empower consumers to spend their dollars on climate-friendly products,” Mariyam concluded.
