Global telematics firm Scope Technologies today has launched a new virtual reality tool that it says will help insurers settle motor accident claims over 90% faster than previously possible.
Loss adjustors using Scope’s technology will wear a pair of oculus rift Scope VR goggles enabling them to reconstruct an accident in 4D using telematics driving data from the black box or on board device (OBD) installed into a growing number of cars or HGVs.
The oculus rift technology creates a full-scale reconstruction of the last moments leading up to an accident, using data on the vehicle’s speed, RPM, as well as weather and location, among other factors. The technology can calculate and analyse the angle, severity of impact and likelihood of injury.
Scope says that it will increase the accuracy of decisions by providing data and an accident reconstruction not previously available to loss adjustors. They will be able to gain a comprehensive overview of a particular accident in real-time and from a remote location.
The tool can use data from any telematics black box or OBD.
The company has said that “groundbreaking” technology will dramatically speed up a crash claim case, from a current average of four to six weeks to just two days. Currently, loss adjustors have to write a report on the validity of the claim and make the appropriate recommendations. This will dramatically speed up and improve that process.
Scope believes that the tool will also be a cost effective measure for insurers, saving on average 60% per claim. It will also reduce fraudulent activity and eliminate the number of sub-contractors required for on-site or garage assessments.
Pravar Gautam, vice president sales at Scope Technologies, said: “We have seen a considerable growth in telematics policies across Europe in recent years, approaching three million in Italy and nearly half a million in the UK. This technology will be seen as a paradigm shift within the insurance industry as claims management will be transformed.
“It will save insurers money and make the life of the loss adjustor far easier, allowing them to process more accurate and transparent claims at more than twice the speed. The 4D accident reconstruction is incredibly detailed and we can analyse crash impact zones and speed metrics in far more detail than ever before.”