Data Annotation - FBSPL Success Story
Highlights
- Our client's preventive loss inspection accelerator for policy center enabled underwriters and risk specialists to link to their platform directly from policy center.
- The accelerator enabled policy center users to initiate the client inspection application and store home inspection insights to prevent claims and reduce loss ratio.
- FBSPL offered data annotation services that helps manage labeling needs efficiently and deliver precise data within the stipulated time.
Case Summary
Our client's preventive loss inspection accelerator for policy center enabled underwriters and risk specialists to link to their platform directly from policy center. The accelerator enabled policy center users to initiate the client inspection application and store home inspection insights to prevent claims and reduce loss ratio.
The Client
Our client is an AI-first technology platform that reduces homeowner claims for insurance companies. Our client helps insurance companies save billions of dollars and build better relationships with their customers.
The Challenge
In the US, home insurers pay approximately $60 billion in claims annually - $15B of which are avoidable. However, virtually all insurers miss the opportunity to avoid these claims because they have not embedded preventative insights into their policyholder's home insurance experience.
The Approach
- We enabled homeowners to own the health of their home & address simple maintenance.
- We check home images and added tags where maintenance was required.
How FBSPL improved value?
- Identified risks and proactively addressed potential hazards.
- Prevented material damage to homes.
The Outcome
Mobile app improving insured experience.
- Client used mobile app to upload home images for AI based inspection.
- Inspection reduced risk in the home insurance book of business through proactive loss prevention.
