DIY Inspections Are Growing
Insurance carriers are partnering with smartphone-based inspection companies that allow homeowners to conduct DIY inspections.
Homeowners are increasingly taking the lead when it comes to insurance inspections. EXL and TruePic have launched a DIY inspection platform that’s already being used nationwide. Florida is likely to feel the biggest impact, as 4-point inspections are typically required for homes over 20 years old. Carriers like Monarch Insurance and Frontline have started offering DIY inspections with mixed results. Many Florida homeowners are not particularly tech savvy and may still need a licensed inspector to complete the process. Security First Insurance ultimately abandoned the program after agents, policyholders, and underwriters agreed that the system was too chaotic.
The process works by the carrier sending the homeowner a link by text or email, the homeowner completes a short survey, and then uploads interior and exterior photos. AI technology then verifies the authenticity of the images and confirms they were taken at the correct property.
In Florida, where many homeowners are snowbirds, it can be challenging to have anyone other than the homeowner or an inspector complete the inspection. Even so, EXL reports that 80% of homeowners choose self-surveys over in-person inspections.
Like it or not, this trend is expected to grow and could eventually phase out traditional 4-point inspections as younger generations take over. However, it’s unlikely to replace wind mitigation inspections anytime soon.