Finance/Insurance
Cyclomedia imagery data provides the necessary visual support for risk analysis. You have a direct view of the object and its surroundings, so inspection visits only take place when they are absolutely necessary.
A risk assessment takes place before a mortgage or insurance contract is entered into. Or a valuation report is assessed for risk inventory. A risk analysis with Cyclomedia visual material gives the customer more insight and you can make better decisions yourself.
Insight in policies and total portfolio risks
For both new and existing insurance policies, insight into the total financial risk of the insured portfolio is necessary at all times. Cyclomedia visual material means that specific risks can be properly assessed. This includes fire risk, state of repair and environmental risks. Risk insight makes an important contribution to the Solvency II obligations.
The insights obtained from Cyclomedia's countrywide imagery database allows the insured risks within the portfolio are properly assessed. Claim charges are potentially reduced on the basis of better risk distribution. Also, the number of location visits required is drastically reduced, resulting in lower inspection costs. Finally, inspectors can use the imagery to best prepare for site visit because our historical images allow them to “look back in time” and assess the earlier state of repair.
Efficient handling of claims
The accuracy and probability of claims received are assessed by insurers. Cyclomedia imagery data can play an important supporting role. Some things can simply be checked remotely online. For instance, was a roof already damaged or in poor repair before it collapsed as the result of a storm? By consulting historic images this question can quickly be answered.
This means that the number of cases of fraud, and the costs relating to them, can be reduced. The use of supporting imagery improves communication, internally and with customers.
Improve and accelerate the underwriting process
It’s important to be able to provisionally accept new insurance requests on the basis of new pictures. All insurance requests received by insurers must be assessed on the basis of correctness and probability. Underwriters decide if an insurance request will be accepted or refused on the basis of the Cyclomedia imagery. Using our imagery, they can decide if further investigation by an inspector on site is necessary.
Cyclomedia's up-to-date imagery means that a request can be evaluated online quickly and efficiently. Properties and their environments can be viewed online, allowing for a better and more precise assessment. The underwriting department can then draw up an offer and corresponding conditions based on this virtual inspection.