Menu

Log in

Augmented and Virtual Reality: Potential Use Cases for Insurers

Published: August 2017

Non-Client Price: $750

Download PDF Download Preview

Download PDF It looks like you do not have free access to this report. Click Here to Buy or For More Information.

Summary

Augmented Reality (AR) and Virtual Reality (VR) are among many evolutionary technologies making inroads into conversations at all levels of technology leadership. These separate and distinct technologies may represent another channel through which insurance companies can serve digitally immersed stakeholders. They have potential real-world implications that span risk mitigation, improved efficiency and loss ratios, and enhanced customer experience. The effect of VR and AR on the insurance industry will be most impactful over time, and their potential to influence and enhance the customer experience is thought-provoking.

This brief outlines the current state of VR and AR, and potential use cases for these technologies in the insurance industry.

TABLE OF CONTENTS

Introduction………………………… 2
Augmented Reality………………………… 3
Personal and Commercial Risk Mitigation………………………… 3
Customer Engagement and Education………………………… 3
Real-Time Claims Adjuster and Agent Training………………………… 3
Virtual Reality………………………… 4
Claims and Underwriter Education………………………… 4
Worker Training and Rehabilitation………………………… 4
Customer Service………………………… 4
Potential Impact and Benefits of AR and VR………………………… 5
Cost Savings and Improved Loss Ratio………………………… 5
Better Customer Experience and Insights……………….5
Operational Efficiency………………………… 5
Concluding Thoughts………………………… 5

  • Tagged:
  • Emerging Tech
  • , Innovation
  • , Property/Casualty
  • , Digital
  • , Strategy