03.07.2023

Where do banks, insurance companies and leasing companies use VIEWAPP digital inspections?

Inspections play a very important role in the business processes of different companies because decisions on further action are based on them and the results of the inspection must be original, without any fraudulent interference.

Inspections come in a variety of forms, for example in the financial industry, such as insurance, leasing and banking:

- Initial checks on the condition of the property,

- Monitoring of its availability;

- Inspections for damage to property.

Such inspections have undergone a number of different transformations during their existence as they have gradually transformed from offline inspections to fully digital ones: at first cameras were used for the inspections and later smartphone filming in user mode without much control. But the use of pure filming without transit control of inspection results meant that the results could easily be falsified. In the insurance industry, for example, fraud is literally still thriving today because the transition to digital technology is in its infancy and is far from over. And it is digitization that allows photo and video manipulation to be tracked and detected, making the tasks of fraudsters almost impossible.

Insurers have obvious aims for inspections:

- When accepting an object for insurance;

- When settling damages.

The move from off-line inspections to remote inspections has been given a boost with the VIEWAPP web application and web interface, where any inspection scenario can be planned and implemented, because it is no longer necessary for each insurance company to individually develop its own application, which in any case is not as comprehensive as it could be because building a digital inspection platform requires a global, universal approach, a major investment and huge experience which is naturally at the disposal of the insurer but it is narrowly focused and may not reflect all the points that need to be taken into account in digital audits.

All the more so because the core business of insurers is insurance and everything related to it, not the development and implementation of digital products.

In banking, the inspection processes are similar, because banks need to control and monitor the condition and availability of collateral, which is even legislated. Therefore a digital inspection tool is extremely important to them. And banks, more than anyone else, know how to count money and are well aware of how much cheaper online digital inspections are than in-person checks (as it turns out - several times cheaper). By connecting to the VIEWAPP digital inspection platform, banks are starting to run their collateral business much faster and more efficiently, freeing up resources for other important tasks that allows them to grow faster. 

In the leasing business, inspections are of course just as important because leased assets are usually expensive and even the manipulation of one of them can cause significant damage to a company's operations. Moreover, leases may be in remote locations that are difficult to reach and the overhead costs of such travel are expensive for companies. Using VIEWAPP digital inspections removes all this hassle and really cuts down on travel distances and both human and financial energy costs. 

It is important not to miss the moment to go digital because digitalisation has become a leitmotif and a major trend, which means that whoever has the new competence of VIEWAPP digital inspections has a business advantage and in competition which has not been cancelled. Customers prefer those who create convenience and benefits for them to those who can never readjust and continue to function sluggishly in the pre-digital era. 

Thus, Lewis Carroll's phrase has now become even more pointed: "You have to run as fast as you can just to stay in place, but to get somewhere, you have to run at least twice as fast!"