Posted On: 2016-05-01 04:59:29 ; Read: 574 time(s)

3D Printing Enters the UK Insurance Industry

Valuable Jewelry and Custom-made Items Can Now be Replicated Using 3D Printing

 

There are so many aspects of 3D printing out there that it’s almost impossible to think of all them at once, even if you are involved in additive manufacturing somehow. And maybe the last thing that you’ll think of when trying to scope out all possible 3D printing applications would be insurance claims. How could possibly this cutting-edge technology be related to insurance? Well, the business in the UK have found a way to introduce 3D printing into insurance industry. Let’s see how!

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The application of 3D printing concerns protection and replacement options offered to heirlooms and bespoke products. The project was developed by Birmingham City University’s Jewellery Industry Innovation Centre, Cooksongold and The Assay Office Birmingham. Then, claims experts at SBS Insurance Services have successfully replaced a range of custom-made items. As it’s evident by the collaborators in the 3D printing enterprise, the items that were replicated, were mostly pieces of jewelry. And even they had to admit that with 3D printing there’s nothing irreplaceable. Of course, the other aspect of this new 3D printing application is that it can modify the insurance claims for good.

According to the Technical Director of SBS Insurance Services, the insurance experts find it very hard to value and set claims for valuable items based on unclear descriptions and old records. A 3D scanned and even 3D printed replica of an object would be much more easier to operate with and potentially both sides would benefit from this new service. Furthermore, services such as SBS and Cooksongold can literally “return” the stolen or lost items to their owners using 3D printing. This can reduce costs for all parties with up to 50%.

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Now, you see that it’s not by chance that the new service has been nominated at the British Insurance Awards 2016 in two categories: Claims Initiative of the Year and The Technology Award.

Of course, the making of a replica has always been an option, but using outdated methods such as wax casting takes a lot of time and money and very often doesn’t produce the perfectly same details the customer expects to get. That’s why 3D scanning and 3D printing comes once again to save time, money and disappointment.

Among the bespoke items already replicated using 3D printing there are a gold bangle, pendant, and several pairs of gold earrings.

And when the policyholders are pleased, the insurers can’t want more. The expectations are that 3D printing will be introduced to other insurance fields as well, and would provide more than replicating valuable jewelry.

3D Printing Enters the UK Insurance Industry