Real Time Communications Featured Article

Livegenic Speeds Insurance Claims Processing with Live Mobile Video

April 06, 2015

Livegenic is a startup based in Philadelphia that’s changing the insurance industry by letting customers stream live video for insurance claims, according to Technical.ly.

The idea behind Livegenic is that if insurance companies can see what’s happening immediately, they won’t have to send out adjusters to verify claims. This allows them to process claims much more quickly and cheaply than they can using traditional methods.




“It’s an interesting industry because everybody is using claims and insurance,” Livegenic co-founder Olek Shestakov told Technical.ly. “People always complain the process is slow, that there’s no way to accelerate it.”

During a call to an insurance company, an insurance agency representative sends the customer a link to download an app to the customer’s phone. The customer can then send a live video stream and reads off a number on the bottom of the screen to the representative. The agent can then see the live video in the portal.

A Livegenic demo video shows an example of water leaking through a window and a customer showing an apparently damaged tiled floor.

The insurance industry appears to be the most conservative. It is based around managing risk as much as possible, after all. It is seeing the advantage of mobile technology to speed up claims processing. Both Esurance and USAA already have apps that let customers stream live video and pictures of claims, similar to Livegenic.

Livegenic itself looks to have a promising future. The startup has already received a first round of funding that includes Ben Franklin Technology Partners.

If insurance agencies are aping Livegenic’s features, the company’s founders don’t seem to be worried, as Livegenic plans to branch out into other areas than insurance.

“We’re not a single solution for a specific industry,” Livegenic’s other co-founder, Alex Polyakov said. “We’re a uniform visual platform to enhance existing phone conversations.”




Edited by Dominick Sorrentino

Article comments powered by Disqus


Home
  Subscribe here for RTCW eNews