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Photocert - Digital transformation in insurance claims

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by Startacus Admin

Photocert - The lowdown on the InsurTech / SaaS startup that's using tech to digitally transform and revolutionise the Photocertinsurance claims industry...

How genuine a picture is can be crucial in some circumstances. In a world of online classifieds, fake online reviews, fake news, insurance claims, shipping and logistics, and online dating, knowing whether an image is genuine or has been tampered with is more important than ever. This knowledge can prevent fraud, increase peace of mind, and in some circumstances, lower customer prices. But this has been easier said than done until now.

London-based Photocert is an InsurTech/SaaS startup that has emerged to tackle this very issue. Two words you’ll be familiar with by now if you have been reading our articles lately are Ethereum Blockchain, and this is what Photocert uses, along with trusted timestamping servers, to legally certify the authenticity of pictures taken with any app with Photocert’s solution integrated.

Date, time, source device, and GPS location are all authenticated in this way. This prevents fraud by guaranteeing the highest security standards.

photocert screenUsing insurance as the example, Photocert can improve the efficiency of the claims process by easily integrating into the provider’s app and systems and encouraging real-time First Notice of Loss (FNOL) and faster initial assessment. Together, these result in a much improved, reduced claim cycle time. Because of the trusted timestamping server, Photocert photographs can be entered as evidence in litigation, leaving no doubt as to the authenticity of the image.

As well as this, Photocert uses an artificial intelligence to extract relevant data from the photos, such as license plates, street signs, and odometers. The AI can interpret the contents in the image in order to automate administrative processes.

Gauging the authenticity of an image is increasingly important these days, and we think that any software that makes that process quick, easy, and painless is going to go a long way.

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Published on: 30th September 2018

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