Virtual Tour Software for Insurance: From Assessments to Claims

Investing in virtual tours benefits both property owners and insurance companies. For owners, it streamlines claims with detailed property records, reducing potential disputes. Insurers gain efficiency, cost savings, and accurate property assessments, leading to quicker claims resolutions.

In this article, we'll discuss how virtual tours benefit both insurance companies and customers, highlighting common use cases for each.

Index:

You can expect us to cover the following topics:

• Who can benefit from virtual tours in the insurance process?
• Benefits of virtual tours for insurance purposes
• Video vs. virtual tour: Which is better for insurance purposes?
• What is the best virtual tour software for insurance?
• How to get started

Who Can Benefit from Virtual Tours in the Insurance Process?

1. Property Owners
2. Claims Adjusters
3. Underwriters
4. Legal Teams

Let's explore how in further detail:

Property Owners

Since virtual tours can be used to document the condition and contents of a property, property owners have a compelling reason to invest in them. This investment is essential for ensuring accurate assessments, expediting claims processing, and offering comprehensive protection against unforeseen events.

Use Case:

In the United States, around 358,500 house fires occur every year. In the unfortunate event that this happens to you, your insurance company may require you to create a total loss inventory list. For most people, remembering every item that was lost can be challenging. It may be even more challenging to prove that your property was in good condition before the fire.

If you worry that you might face such a situation, it's prudent to create a comprehensive record of your property before a disaster occurs. A virtual tour can help you create a detailed inventory of your possessions, ensuring you can fair compensation in the claims process. Furthermore, it can act as shareable proof of the quality of your property before the fire, reducing disputes and facilitating a quicker claims settlement.

Claims Adjusters

Claims adjusters benefit significantly from virtual tours as they streamline the assessment of damages, making the claims resolution process faster and more efficient. The ability to remotely inspect a property through a virtual tour may even eliminate the need for physical visits, saving time and resources.

Use Case:

After a storm, a claims adjuster may need to assess damages to multiple properties quickly. With virtual tours, this process becomes more efficient as they can remotely inspect the affected properties from their desk. Instead of traveling to each location, the detailed 360-degree views and documentation provided enable them to gauge the extent of the damages accurately. This not only expedites the claims process but also allows claims adjusters to allocate their time more effectively, ensuring a prompt and fair assessment for each policyholder affected.

Underwriters

Insurance underwriters evaluate risks related to insurance applications by analyzing data like an applicant's history and property details. In this process, a virtual tour can be a useful tool, aiding underwriters in making well-informed decisions about coverage terms, premiums, and whether to approve or reject a policy based on a comprehensive risk analysis.

Use Case:

While underwriters typically rely on data, analytics, and documentation for their assessments, there are instances where a personal inspection of a commercial property may be deemed necessary. However, in many cases, underwriters can leverage technology, such as a virtual tour, to gather comprehensive information without the need for a physical visit. A virtual tour can be particularly useful, providing a detailed and immersive view of the property, helping underwriters assess risk factors, property conditions, and overall insurability more efficiently.

Legal Teams

In the aftermath of a property-related incident, legal teams need to navigate claims disputes and address legal implications. Virtual tours become a useful problem-solving tool because they provide a visual record of the property's condition before the event. This documentation not only aids in supporting the claims process but also serves as tangible evidence in legal proceedings.

Use Case:

In the case of a house fire, a property owner may seek considerable compensation. In some cases, there might be disagreements between legal teams about the extent of the damages or the condition of the property before the incident. The virtual tour becomes essential in these situations, offering a clear and unbiased record. Legal teams use it to show exactly how the property looked before the event, including its features and contents. This visual evidence helps in negotiations and legal discussions, making the resolution of disputes more transparent.

Benefits of Virtual Tours for Insurance Purposes

1. Efficient Claims Processing: Virtual tours serve as invaluable documentation for insurance claims. Insurers can refer to the comprehensive footage and images to verify a property's condition before an incident, expediting the claims process and reducing disputes.

2. Comprehensive Visual Representation: Virtual tours offer a detailed and immersive visual representation of insured assets, minimizing misunderstandings and enhancing communication between insurance companies and policyholders.

3. Secure and Unalterable Records: Unlike traditional documentation methods susceptible to damage or manipulation, virtual tours are hosted on secure servers, ensuring the integrity and longevity of captured data. This feature becomes particularly crucial in maintaining records during unforeseen events like fires or floods.

4. Remote Accessibility: The accessibility of virtual tours enhances the efficiency of the insurance claims process. Insurers can remotely access and review tour content, eliminating the need for on-site visits, thereby expediting claims assessment and contributing to a streamlined and customer-friendly experience.

5. Peace of Mind for Policyholders: Virtual tours provide policyholders with peace of mind, knowing that their insurance claims are supported by a detailed, tamper-proof visual record. This transparency fosters trust, reduces the likelihood of disputes, and ensures fair and accurate assessments of claims.

Video vs. Virtual Tour: Which is Better for Insurance Purposes?

While making videos of your belongings for insurance is better than nothing, virtual tours offer significant advantages.

Firstly, they come with advanced features, such as the ability to embed photos, videos, PDFs, and even sounds. This practical feature allows you to directly save receipts and other additional information within your virtual tour, making it easy to access crucial documents. For example, when you hover over your sofa or a piece of art, you can instantly access the associated receipts. This streamlined capability ensures that insurance professionals and users alike can securely store and retrieve all essential details.

Additionally, virtual tours provide independent navigation through spaces. This self-driven exploration becomes invaluable during insurance claims assessments, allowing for a comprehensive and user-directed examination of specific areas of interest.

Moreover, virtual tours are hosted on protected servers, ensuring the safety of critical information even if physical receipts are lost in an unforeseen event. To address privacy concerns, users have the option to password-protect their virtual tours, adding an extra layer of security to their documentation process.

What is the Best Virtual Tour Software for Insurance?

TeliportMe sets a new standard in virtual tour software for insurance, offering a holistic solution that caters to the needs of the insurance industry.

Here are some key aspects that set TeliportMe apart:

Security: TeliportMe prioritizes the security of user data, underscoring its commitment to safeguarding critical information. By hosting virtual tours on secure servers, TeliportMe ensures the integrity and protection of user data, establishing a trustworthy foundation for insurance documentation.

Accuracy in Digital Representation: TeliportMe excels in providing accurate and detailed digital representations of properties. Utilizing sophisticated algorithms and state-of-the-art technology, the platform captures and preserves a three-dimensional visual record of your assets.

User-friendly Interface: You don't need a computer science or photography degree to create a virtual tour with TeliportMe. The platform is designed with user-friendliness in mind, allowing users to effortlessly navigate the software using just a smartphone. This accessibility ensures that creating virtual tours is a straightforward process for all users.

Advanced Features: Despite its user-friendly nature, TeliportMe doesn't compromise on advanced features. The inclusion of tools like 3D Dollhouse sets TeliportMe apart, providing users with powerful capabilities to enhance the documentation process.

Customer Service: TeliportMe's commitment to customer service is its hallmark feature. The emphasis on addressing user needs, providing prompt assistance, and offering reliable technical support underscores their dedication to ensuring a positive and seamless experience for all users.

How to Get Started

TeliportMe is confident that you'll fall in love with their software, which is why they provide an unlimited free trial. During this trial period, you'll have the opportunity to create your own virtual tour and explore all the features without the need to provide any credit card information. The only limitation is that you won't be able to publish your virtual tour until you're ready to fully commit to using the platform.

If you have any questions about virtual tour software, please contact us at help@teliportme.com. We are the industry experts, and our goal is to make the process as simple as possible for you.