Automatically Detect Inventory Items in Videos for Home Insurance Purposes
HomeZada has launched a home inventory video recognition AI set of features within its digital home management platform.The inventory video recognition dramatically speeds up the process of creating a home inventory for insurance purposes. Every home insurance company strongly recommends homeowners create a home inventory and HomeZada’s inventory recognition technology makes this process very fast and easy.
HomeZada’s platform enables homeowners to use the mobile app to record and upload videos of each room and the exterior spaces of their property. The videos are then processed through video recognition AI to automatically detect the inventory items and present the results. The homeowner makes final confirmation of the inventory items and updates their list of items for that space.
“Most homeowners do not have a home inventory and thus are probably under-insured and at significant risk of not being properly reimbursed if disaster strikes,” said Elizabeth Dodson, a co-founder of HomeZada. “Unfortunately, we have witnessed a number of large-scale disasters recently such as wildfires, hurricanes, floods, etc. where people lose their homes, so we are excited to provide this inventory video recognition technology to solve these problems for homeowners.”
HomeZada’s inventory recognition AI detects both personal property objects such as furniture, electronics, collectibles and decorative items in the home as well as fixed asset items such as appliances, fixtures, equipment and building materials. This is important because a home insurance policy has both a personal property amount of coverage, and a separate dwelling coverage to rebuild the home if necessary.
HomeZada’s home inventory app provides consumers with different methods of creating a home inventory. Some people want a high level of accuracy, so the platform supports itemizing your inventory and taking individual photos of each inventory item in the home. The latest version is for consumers who prefer speed in the process by quickly taking 10 to 15 videos of each room in the home and processing that through the new inventory video recognition technology.
“Having videos stored in HomeZada provides consumers with peace of mind in case they need to file an insurance claim, especially if they lose or change their phones and the original video is lost,” said Elizabeth. “We really want to enable homeowners to be better prepared with our platform because all indications are that unfortunately, these disasters that damage and destroy homes will continue.”
View more information about HomeZada’s new inventory video recognition technology here and you can watch a video here.
HomeZada is a Digital Home Management platform that empowers consumers to manage their largest financial asset, their home. The online and mobile solution combines apps, content, and data to help homeowner’s mange a home inventory, a home maintenance schedule, home improvement projects and home finances. A Professional version helps realtors, insurance agents, builders, and home service providers the ability to create digital home information for their clients to increase renewals and referrals.