"SkenData's Wert 14", the virtual tool for appraising a building's value, uses little input data – such as a single address – to provide a building value that is so accurate that many insurance companies in Germany accept this value in their acceptance policies and declare a waiver of right to claim under insurance.
Low-cost, fast, easy, and reliable
The benefits of a virtual solution compared to traditionally used value appraisement sheets and the use of an appraiser are obvious: it is more economical and faster than an appraiser, better than an appraisement sheet (in terms of comparability and completeness), and far simpler for the sales department. In addition, an increasing number of freely usable data sources are being available in addition to 3D building data and aerial photographs, which allow for fast, comprehensive and adequately accurate building appraisal at the touch of a button when combined with a suitable evaluation logic (AI). We believe that "SkenData's Wert 14" is a very good evaluation system that can be used via a defined service without having to depict the complexity of the detail yourself.
Applications for value appraisal
Its main areas of use are definitely the application process to policy issuance. Immediate market value appraisal is very interesting, especially for the applicant, since often times, it is otherwise only available for a fee. Furthermore, the results can also be used as a building report (PDF report). Another very interesting aspect for insurance companies is reviewing existing contracts either completely or selectively as desired with the goal of discovering which ones can potentially be processed. Mass processing can be performed very lightly and cost efficiently by using this service tool. But possible applications can also arise in claims processing.
Showcase and application scenario: use in formal coverage verification
For showcasing purposes, we have integrated the "SkenData-Service Wert 14" in a formal coverage verification process. It compares contractually stipulated insurance sum to the amount of the Wert 14 calculation.
- No notice is issued whatsoever if the discrepancies are less than 30%.
- A notice is issued if the discrepancies range between 30% to 50%.
- For discrepancies greater than 50%, a warning is issued stating that the benefits may be deductible in this case.
Case and rule structure for claims processing
An application scenario in claims management system, in|sure General Claims with an external workflow system would appear as follows in detail:
Minor damage (damage sum < = 3.000 €)
- Discrepancy < 30%
- No notice is issued during a coverage check.
- For a payment, no notice is issued in case of a payment.
- Furthermore, no building report is created and saved.
- Discrepancy > = 30% < = 50%
- A notice is issued during a coverage check.
- A notice is also issued for a payment. However, the payment itself is carried out.
- A building report is created during the coverage check, and it is stored in an electronic archive system with the claim number.
- In parallel, a request to clarify the discrepancy in a conversation with the customer is sent to the Sales Department's inbox or the inbox of the sales employee in charge.
- Discrepancy > 50%
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- Warning notice as part of a coverage check.
- During a payment, there are options for sending employees a request to not perform the payment.
- A payment can also be automatically prevented, or the payment is forwarded to the supervisor for professional approval due to this discrepancy.
- In parallel, the Sales department is notified to perform a contract modification with the customer with a modified insurance sum. The downstream compensation payment can then be reduced accordingly.
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Medium damage (< 3.000 – 50.000 €)
- Discrepancy > = 30% < = 50%
- Warning notice as part of a coverage check.
- During a payment, there are options for sending employees a request to not perform the payment.
- A payment can also be automatically prevented, or the payment is forwarded to the supervisor for professional approval due to this discrepancy.
- In parallel, the Sales department is notified to perform a contract modification with the customer with a modified insurance sum. The downstream compensation payment can then be reduced accordingly.
- Discrepancy > 50%
- Warning notice as part of a coverage check.
- During a payment, there are options for sending employees a request to not perform the payment.
- A payment can also be automatically prevented, or the payment is forwarded to the supervisor for professional approval due to this discrepancy.
- In parallel, the Sales department is notified to perform a contract modification with the customer with a modified insurance sum.
- The downstream compensation payment can then be reduced accordingly.
Major damage (< 50.000 €)
- General discontinuation of benefits and individual processing.
We are glad to assist if you have questions on using or integrating virtual building appraisal. Hans-Josef Eichas, our expert, is at your service.
