Machine Vision in Insurance: Use Cases and Emerging Providers

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Machine Vision in Insurance: Use Cases and Emerging Providers

Jeff Goldberg
Head of Insurance Insights & Advisory

March 2019 - Insurers now have access to an unprecedented quantity of image and video data. Many still manually review these data sources, but limited insight can be gleaned by this method. Carriers are beginning to invest in machine vision technology to process this data, programmatically analyzing risk factors in photos and videos and making sense of these vast image stores. Machine vision offers insurers the ability to automate, scale, and enhance risk evaluation while seeing gains in operational efficiency and cost reduction.

This brief provides an overview of machine vision technology and current use cases in insurance. It also profiles some emerging providers in this space, including Cape Analytics, Flyreel, Pointivo, Betterview, Claims Genius, Galaxy.AI, Tractable, and Lapetus.

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