(Image source: Arturo.)
Arturo, an AI-powered platform that derives property insights and predictive analytics from high-resolution aerial imagery, has released Arbiter, an on-demand, web-based underwriting and claims solution that the vendor says creates highly efficient and cost-effective workflows for insurance carriers.
Insurance professionals who use Arbiter will gain access to accurate, on-demand property reports that streamline property underwriting and claims by reducing costs and claims processing time, according to an Arturo statement. “Policyholders need quick assistance from their providers, especially following natural disasters,” the statement says. “By leveraging Arturo’s AI, multi-source imagery, and configurable APIs, Arbiter enables insurers to better assess the damage caused by a specific event, issue disbursements faster and use human resources more strategically to review, process and issue claims.”
“Gaining deep insight into a property’s physical performance has always been important, but with catastrophic weather events increasing—in 2020, the U.S. was hit with a series of record-breaking climate events—the need for this intelligence has become particularly acute, according to John-Isaac “jC” Clark, CEO, Arturo. “When disaster strikes, insurance carriers and homeowners both benefit from having the most accurate and up-to-date property information available,” Clark comments. “Aerial imagery data collection has proliferated in recent years, and with Arbiter streamlining the collection and analysis of this critical data, we expect more of the insurance industry to leverage this AI-powered tool to better serve their customers.”
Better Understanding Preconditions and Triage CAT Events
Using the vendor’s deep learning spatial models, Arturo asserts that Arbiter automatically extracts dozens of unique property characteristics for insurance professionals by referencing current and historical aerial imagery of residential and commercial properties. Through Arturo’s partnerships with satellite, stratospheric, aerial and street-level imagery providers, Arbiter uses the most extensive collection of global aerial imagery to provide property insights within seconds, enabling insurers to better understand preconditions and triage catastrophic events, the vendor reports.