Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has introduced i-Value, a self-service application that enables policyholders to get their damaged carpet valued instantly via their smartphone.
Using artificial intelligence (AI), i-Value defines the structure and material of a carpet and based on comparative retail prices calculates the most cost-effective match to the existing carpet, including necessary accessories like underlays, grippers and door bars. This provides policyholders with a quicker valuation, allowing them to get a quote and payment for their carpet in as little as 10 minutes.
The i-Value app, developed in partnership with Typhoon 8, streamlines flooring claims by using industry-recognised technologies, such as FloRA (Flooring Recognition Algorithm) and CarMA (Carpet Measuring Algorithm). This new application enables policyholders to take advantage of these three-year-old algorithms for the first time. The i-Value app employs a self-service network that instantly connects policyholders to their assigned claims handlers; a global fulfilment solution is forthcoming.
The self-service, direct evaluation process eliminates the need for an in-person adjuster visit, significantly reducing the carbon footprint of the claim. Early studies indicate that i-Value can resolve up to 80% of average flooring claims digitally and on the same day.
“We’re continuously striving to improve customer experiences in the claims process, and the launch of the new i-Value technology provides a faster, more cost-effective and environmentally-friendly service for customers seeking a claim on their damaged carpet,” said Angela Kelly, Sedgwick’s director for client operational delivery in the UK.
“It’s Shazam for carpets,” said David Bagnall, partner at Typhoon8. “The i-Value app makes the difficult task of flooring valuation simple for anyone.”
The technology on which i-Value is based has won a wide range of awards, including the British Insurance Awards Digital Insurance Innovation of the Year and the National Insurance Awards Digital Insurance Award.
For more on the i-Value customer journey and how the application resolves in-house insurance claims, click here.