Satellite imagery can revolutionize home insurance service


Indispensable for our GPS — we wouldn’t go back for the world, would we? –, satellite images are used in many fields of application.

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After’agricultureto predict the risks of bad weather for example, and theecology, to monitor the planet’s resources, it is the turn of home insurance to adapt its services using satellite imagery. The idea? Propose concrete and specifically appropriate solutions to the needs of policyholders!

What is satellite imagery?

Rich in information, satellite imagery refers to photographs captured by satellites sent around the Earth. Coupled with theartificial intelligence where the machine learning, these data are used in many fields. Assessment of deforestationfirefighting or excessive floodsweather estimates, weather managementenergyprediction for farming

For example, satellite images have made it possible to detect the extent of the damage caused by the floods who hit the Maritime Alps in October 2020. These analyzes become decision-making support tools for the reconstruction phase and the urbanization policy of the region in order to prevent such flash floods from affecting the infrastructures placed around them in the future. .

How can these images revolutionize the home insurance sector?

The first one neo-insurance Luko specialized in this field and exploited these images. The goal ? Save time for subscribers and insurers by working on two strategic aspects: facilitating file creation and being more reagent in case of calamity.

  • Saving time in the (sometimes tedious) subscription process is a real plus. With such data available to insurers, future customers will no longer need to answer lengthy questionnaires before obtaining a quote. Images take care of everything.
  • And to speed up procedures in the event of a claim and estimation of reimbursement costs, the images satellites will provide valuable information that will avoid excessively long processing times and above all the solicitation of many interlocutors.

For the subscription phase

No need to describe his house in the smallest details. The algorithms that process the collected satellite data go well beyond geographic positioning. They remotely detect all the specifics of a home and then offer a totally personalized solution. The area of ​​the land, the surface of the roofits inclination, the presence of trees or even the age of the house are all information that can be revealed thanks to satellite images and interpreted by state-of-the-art programs. An additional questionnaire will make it possible to indicate the non-visible elements such as for example the presence of a cellar.

Result: customers obtain much more reliable protection that is better suited to the specifics of their home. Which, therefore, leads to a fairer price!

And in case of disaster

When we see how satellite imagery helps farmers or forest guards to predict bad weather or environmental risks, it is easy to imagine that it can also be applied in the assessment phase.

The location of the house, its direct environment, the events of natural disaster recorded in recent years… All of these elements come into play in estimating the risks. This overview allows insurers to offer an insurance policy that is truly adapted to the specifics of the house. And in the event that a sinister took place, this pre-recorded data facilitates the process of expertise and reimbursement. With all this information already ready to hand, insurers will be able to coordinate the various stages of coverage with much faster turnaround times. Like digital banking, online home insurance is in the process of renewing the sector to further personalize its customer approach.

Article produced in partnership with the Luko teams

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