Insurance is an industry considered “ripe for disruption,” which means executives are being pitched by companies with tools and technology they claim will solve multiple problems and improve the bottom line. Decisions about which tools and technology to invest in can be time-consuming, confusing and daunting. Keeping up with developments and assessing which equipment is fit for purpose is a full-time job. For insurers considering investments in drones, 3D capture, predictive analytics or IoT, constant upkeep and new processes will be needed before any benefits are realized.

The very tools and technology being purchased to solve problems too often become the problem.

I spent 25 years working for leading manufacturers of 3D & virtual technologies before starting VTS. We were certain that 3D capture could be valuable for solving problems in the insurance industry. Our team took the time to understand the needs and problems of carriers. While adjusters saw the value in 3D capture, they were not interested in learning sophisticated equipment or software that might slow down the claims process. Speed and accuracy are paramount in claims management. When an incident occurs, any time saved translates to significant savings in business interruption and costs. For 3D to be valuable, it had to be fast, cost-effective and easy to use.

Our job at VTS is both to understand each of the technologies that are available and how they best serve the needs of insurance carriers. The value we deliver is in using the right equipment, and the application of virtual technology into claims consulting, planning and appraisals.

360consultant is designed for carriers to get the benefits from the collaboration and accuracy that 3D capture delivers, without having to invest in 3D cameras, drones, lidar and laser scanners. When our capture crew is on a site, they select the right equipment to create the 3D model. No property or incident is alike. The virtual tour and 3D model has built-in measurements, dimensions, material, with overhead and floor views. Damages can be seen from angles and perspectives not possible in 2D.

When we create a virtual claim, the photos, documentation and 3D model is available at all times to collaborators. The result is that estimates are more accurate. VTS rates are 25% less than average building consultants, which leads to savings on the claims capture.

Insurance professionals can focus on what they do best while leveraging a service provider to keep up with rapidly changing technology.

The equipment in our tool chest includes imaging capture, 360 or panoramic captures, structured light devices, SLAM devices, lidar laser scanners, drones, and vehicle based equipment. There is no “one size fits all” and the field is constantly changing. For example, experts disagree on the value of terrestrial laser scanning. Which is better? They both work well. Both can produce phenomenal results when applied correctly. We deploy a mix of technologies on a project to create the best value for our clients. It’s about the right application.

To select the right technology to use, it’s critical for us to understand what the data needs to accomplish and how users will need to interact with it. Check out our projects for real world examples of claims consulting, 3D capture and more.

“The combination of 3D capture, technology expertise and building consulting delivers great value. VTS support with pre-loss evaluations, preparedness and post-loss documentation has changed the game. ”
Ed Schlaffer, Director Insurance Services, VTS

Author: John Chwalibog, CEO, VTScans

About VTS: After 25+ years working for leading manufacturers of 3D virtual technologies, John & Kelly Chwalibog understood how valuable 3D and reality capture would be for solving problems in key industries. They left the corporate world and founded VTS in 2017 to build transformative and easy-to-use 3D technology tools.