How Camdog Inc’s AI-based Video Surveillance is Changing the Insurance Industry

Wednesday, 26 February 2020
Camdog team
How Camdog Inc’s AI-based Video Surveillance is Changing the Insurance Industry

As technology adapts, it impacts the big-picture and day-to-day operations of countless different industries. This synergy of traditional businesses like insurance companies and tech like AI-based video surveillance is changing the face of the corporate world. Camdog Inc, a powerful surveillance technology business, is using its abilities to make a real impact on the world.

Believing that machines protect people, this company makes it easy for businesses to employ different types of tech to protect their interests. While some applications are straightforward like using a camera to observe those near your businesses, some newer strains of technology open doors to streamlining once complex processes. Amongst the main beneficiaries of this added ease is the insurance industry.

About Camdog Inc

Providing comprehensive security services to businesses and homes alike, Camdog.AI makes it easy to use the smarts and savvy of machines to keep your interests safe. Unlike regular cameras that are prone to errors, confusion, and subject to damage, the AI-based surveillance tech is virtually flawless.

AI, or artificial intelligence, offers a wide range of features that, while they apply across the board, have special benefits for insurance agencies. Among the chief services provided by Camdog Inc are:

  • Object detection: The capability of identifying and placing objects within the AI’s line of sight. This capacity also allows the ability to identify those objects and differentiate between sets (such as people and boxes, for instance).
  • Human detection: Reducing the risk of false alarms, the Camdog AI system is able to tell when an action is performed by a human. The system informs its user when an action is taken and employs video surveillance cloud storage to store it for later use (like when an insurance company needs to verify a claim).
  • Face recognition: Using industry-leading methods, Camdog AI is able to differentiate between different individuals through their video surveillance system. Since the information is stored, insurance companies no longer have to question who was where and when. The information is vetted by an impartial machine and stored for future use.
  • ALPR recognition: Identifying information is not specific to human interactions and includes things like license plates and vehicle makes and models. Simplifying the burden of proof, security monitoring companies make it easy to verify the facts.

Current abilities are a far stretch from using a security camera warehouse feature to protect your business property. Video monitoring reaches an entirely new level with the Camdog AI-based service. Now, all businesses, big and small, can reap the benefits of this sought after technology.

Benefits to Insurance Companies

Naturally, some industries reap more benefits from AI-based surveillance advancements. One of the most logical contenders for this windfall is the insurance business as a whole. A multi-billion dollar industry, insurance is something that most businesses and homes have, as well as being something that every driver requires.

With services ranging from health care to motor vehicles, tenant insurance to business protection, it is one of the most diverse businesses around. While the business as a whole is profitable, it is a result of painstaking work involving expensive and lengthy research and execution. Even with all the facts possible, with no tangible proof, when it comes to litigation, it is ultimately a matter of chance.

Camdog’s AI-based video surveillance is changing the game. Adding ease of function to insurance company’s day-t0-day operations, there are countless ways to apply the technology including:

1) Increasing Client Bases

When insurance companies employ AI-based monitoring software, they have an added level of reassurance in the quality of information. With cloud-based storage, there is no opportunity for loss of data. Given these two factors, this allows insurance companies to incentivize new clients with lower rates if they participate in AI surveillance. Historically, there have been significant reductions in insurance with even a low-tech security system. The impartial and effective AI surveillance put forth by Camdog takes these benefits to a whole new level. Insurance companies can offer better incentives and clients get a reduced rate.

2) Easing the Burden of Proof

Ultimately, insurance companies see the highest level of profit when they don’t have to pay out at all. AI surveillance means that, if the facts favor the insurance company, they can efficiently deny the claim. Typically, the next best option is to settle, wherein Camdog’s system gives the company a chance to quickly gather the information that reduces their payout. The last option is litigation; and, in these cases, insurance companies get access to the full files held on the cloud, allowing them time to effectively prepare a case. Through visual confirmation of facts like license plates, faces, and locations, it is easier than ever before to prove a chain of events. Through a lack of bias, only machines are truly capable of, fact verification is both simple and objective.

3) Improve Processing Time

The cloud-based storage features easy to access information. This speeds up the processing time for individual files and results in significant savings. Since AI is an impartial observer and recorder, there is nothing to contest in these files. Time is money, after all, and with the efficacy in analysis available from machines that are free of distraction (and the need for sleep), savings are significant. Through both the accelerated information gathering process and the benefit of impartiality, insurance companies save over both the short and long term.

4) Staying Ahead of the Competition

It’s no secret that insurance is a competitive business. There are many contenders for clients and it comes down to the ability to stay ahead of the curve. By providing a lower-cost option, like that afforded by utilizing Camdog technology, in addition to implementing modern features, companies can more easily sway clients.

Developments in Camdog Inc.’s Business & Technology

The trend has already begun; Camdog Inc is already engaged in discussions with several US insurance companies. Working in cooperation, Camdog and major insurance providers can improve analytics, facilitate ease, and make insurance accessible to more people and businesses.

In terms of analytics, machine learning leads to the curve in both efficiency and capability. Several conversations are already underway for Camdog to join forces with US insurance companies. This will both accelerate the process of gathering information as well as preparing it for use through cohesive presentation and comprehensive layouts. When AI and insurance work together, it will be easier than ever to prove the truth; which, of course, is the ultimate goal.

Final Notes on AI & Insurance

There are few industries that benefit as comprehensively from modern AI-based surveillance as insurance companies. Using everything from recognition technology to analytic methods, it both saves time and money. For companies that operate on such a large scope, this adds up to massive savings in the long-term. Machines are truly impartial observers and flawlessly embody the desired unbiased nature of insurance providers.

Given that Camdog Inc is already in discussions with major insurance providers throughout the United States, they are emerging at the forefront of this exciting new trend. Soon, AI will have a major role in proving the truth and the evolution of litigation. With a reputable and reliable company like Camdog Inc that has proven its value on the market, both to businesses and individuals, the insurance industry is in great hands.

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