Truepic to help Jewelers Mutual with underwriting processes

US-based Jewelers Mutual Insurance has selected Truepic Vision to improve its underwriting processes.

As part of the deal, Truepic will deploy its photo-authentication technology to conduct virtual inspections of jewellery at the underwriting stage – additional use cases for the technology will be launched later in the year.

Jewelers Mutual works with a variety if insurance companies to conduct the underwriting of jewellery and jewellery businesses. Through the new software integration, customers can conduct virtual inspections by taking a picture of the protected piece, taking just minutes. Not only can the technology accelerate underwriting, but it can also boost claim processing speeds.

Truepic is a photo and video verification platform which helps individuals and businesses to ensure the legitimacy of images. Its services are designed specifically for the insurance industry.

Through its image forensics, the company can help businesses to complete virtual inspections with the same level of trust as an in-person inspection, the company said.

Truepic VP and head of insurance Dan Gumpright said, “In an era where photos and visual media are difficult to trust, especially in commercial applications, we use our years of image forensics experience and technology to provide insurance companies with the trusted images they need, and insureds with the customer-centric experience that they want.

“Our modernized inspection process is trusted across the business, from underwriting to claims, and even within Special Investigation Units (SIU).”

Last year, Truepic pulled in $8m in its Series A round of funding which was supported by Dowling Capital Partners, and a number of angel investors.

Truepic will be exhibiting at the Global InsurTech Summit on 5 March.

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