Technology continues to disrupt each industry and insurance is no different. When I say disrupt, this isn’t meant in a negative way.
There are numerous examples of how technology has simplified both personal and business insurance. Sometimes it shows up in your yearly premium, and often you’ll see it as “ease of doing business.”
Do-It-Yourself Home Inspections
Whenever you start a new home insurance policy your carrier will inspect the property. These inspections are exterior only, though if your property is deemed high valued (typically $1 million plus) your carrier may require an interior inspection as well.
More insurance carriers in Virginia are rolling out DIY home inspections. Instead of sending someone, your inspections can literally be completed in the palm of your hand. All you need is smart mobile device and 10-20 minutes.
These apps will link to your insurance policy and upload the pictures directly to your carrier. For example, the app may ask you to take a picture of your home from the outside front with the roof line pictured as clear as possible. Then you just snap and send.
A DIY inspection is not available for each insurance carrier. I expect in the next few years this will be widely adopted, and some carriers may require a DIY inspection as part of the application process.