Munich Re seeks to revolutionise hurricane response with automated damage detection tools

Munich Re has launched a new suite of automated damage detection tools designed to "revolutionise" the insurer's ability to respond to hurricane events.

The new hurricane response suite uses high-resolution aerial imagery and machine learning algorithm to help insurance companies assess widespread property damage after a hurricane and improve customers’ claims experience.

Additionally, the tools provide insurance companies with highly detailed predictions of damage days prior to the hurricane making landfall.

“The hurricane events from 2016 to 2018 resulted in a high volume of claims, a shortage of adjusters and higher loss adjustment expenses for insurance companies, with claims resolution delayed for many of those who were impacted,” said Roman Buegler, head of The Lab, Munich Re. “Our new suite of tools utilises cutting-edge technology to help insurance companies improve the customer experience and free up adjusters to manage serious or complex losses, while allowing rapid settlement of more simple losses.”

Buegler added: “More extreme and frequent catastrophe events have unfortunately become the norm, so our industry can’t rely on the way we’ve always responded to hurricanes. Having remote sensing capabilities is a way to step up our game for our insureds at a time when they need us most.”

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