Fast Facts: Livegenic greatly reduces the need to travel for claims inspections. The reduced travel reduces harmful greenhouse gas emissions that are the primary cause of climate change. As more of the insurance industry adopts virtual inspections solutions like Livegenic, we can greatly alleviate our carbon footprint upon the planet.
The insurance industry is built upon predicting risk. It is the basic principle to determine how likely the insured is to incur damage or catastrophe before a policy is issued and invested. The amount of data that goes into these predictions can be gargantuan, though dependable. The same equations bring the same results, time and time again.
Until they don’t…
Climate change is making insurance more difficult. Though still a divisive topic in many parts of the world, it has been a growing factor in determining risk for decades. While many still claim hearsay or incomplete data, the dollars and cents in damage speak for themselves: earlier and lengthier hurricane seasons, ever more encroaching flood areas, and a deadly winter storm that nearly crippled the state of Texas have left little doubt that things are not as they once were.
What can the insurance industry do to assist in this scenario? Surely premiums will continue to rise in affected areas, but that accomplishes nothing to slow, stop, or reverse these trends. Something must be done. It is not a responsibility delegated to any specific industry, creed, or nation, but a global and human problem that requires a global and human response.
Everybody needs to do their part. Livegenic is committed doing ours, and here’s how we can contribute to helping you do yours:
The primary cause of global climate change is believed to be greenhouse gas emissions. As they are emitted from combustion engines in cars, trucks, and planes, they pollute the atmosphere and interact negatively with sunlight and weather patterns, creating the changing climate scenarios seen worldwide. The best course of action to stop this? Lower greenhouse gas emissions. Our focus is to help our customers minimize their environmental footprint by leveraging technologies that reduce waste, energy consumption, and greenhouse gas emissions.
Livegenic has designed our business model around enabling the insurance industry to reduce its reliance on greenhouse gas by substantially reducing the need for physical travel, as well as reducing the time and effort required throughout the entire claims process. By removing the need for land and air travel, virtual claims processing has helped our clients prevent the emission of more than 8000 Tons of CO2 (and counting!). Through faster cycle times and increased efficiency, Livegenic has helped insurers save policyholders more than half a million days worth of lodging during home repairs. Though small in the grand scheme of climate science, we are proud to be contributing where we can. As the industry continues to adopt more remote practices, our pollution output will continue to drop exponentially.
The insurance industry is built on predicting risk, and climate change has proven to be a massive one. Not only to our customers, but to future generations, and life itself. Livegenic recognizes the importance of a healthy planet for our employees, customers, and communities. We will continue to observe evolving trends and innovate new solutions that will not only save our customers time and money, but also fulfill our obligation to maintain the health and safety of the environment.
To begin your journey towards a healthier planet (and reduced cycle times!) click below to Request a Demo.