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A technology once reserved for video gamers is now being heralded as a game-changer for the insurance industry.
Leading landlord insurance specialist Terri Scheer has become the first landlord insurer in Australia to use virtual reality (VR), with the launch of its VR headset experience.
It marks a new era for marketing and customer engagement, and is shaping the future of how insurance is bought and sold.
Terri Scheer’s VR experience takes landlords on a ‘walk’ through a home to see first-hand the most common types of damage that can happen to their investment property.
It also includes a narration educating users on how insurance can protect against these risks.
A flooded bathroom from a leaking tap, broken windows and light fittings, a kitchen fire from a pot left on the stovetop, and a trashed bedroom with holes punched in the walls are all depicted in the virtual reality experience.
Executive manager Carolyn Parrella said the VR experience was aimed at real estate agents, landlords and property managers.
“It is part of the experiential way that we are trying to deliver our landlord insurance services,” she said.
“When users wear the headset, they watch these scenarios unfold in real time. The use of virtual reality is our response to difficulties customers may have in understanding risk. Landlords and property managers know how insurance works. They want to protect themselves or their clients, but they can be hesitant to invest in an insurance policy without knowing the benefits. "
Ms Parrella said the virtual reality headset will put users in the shoes of a landlord who has found their property damaged.
“We intend for this leading-edge technology to show landlords the ‘bigger picture’ of their investment.”
The virtual reality experience is a result of three months of development, in collaboration with creative technology agency S1T2.
The Terri Scheer Virtual Reality (VR) will be appearing at real estate conferences and in Suncorp stores across the country in the coming months.
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