Drones offer better insight into the facts during the insurance risk assessment and claims processing.
FREMONT, CA: Technological transformations are influencing the industries throughout. The rise of new technologies is also giving way to new business applications. For instance, the growth of unmanned aerial vehicles (UAVs) or drones is gradually enhancing the capabilities of industries like healthcare and insurance. Various insurance firms have already installed drones for the purposes of risk management to offset operational costs.
Insurance companies are finding drones, especially useful while assessing risks on-site and processing claims. Furthermore, the utilization of drones is enabling firms to draft better insurance coverage. Drones can offer enhanced visibility to insurers in several cases. For instance, in case of a natural disaster or accident, it might be challenging for the insurers to reach the site and document the incident promptly and safely. Alternatively, insurance firms can depend on drones for the above cause.
UAVs, coupled with Hi-tech cameras and video equipment, enables the operator to fly the device over areas that may be unsafe for humans. Such UAVs can also record the scene in detail, providing the insurers the evidence needed to process insurance claims. Thus, insurance firms can safeguard themselves against any possible fraudulent claims due to improved visibility into the accident zone.
Insurance firms are also leveraging drones to evaluate sites with the purpose of spotting and bypassing risks. Drones are also being used by the insurers to survey sites and scenes so that accurate risk projection associated with a property or a business can be made. According to the results of the evaluation, insurance firms can design a comprehensive picture of the site along with appropriate risk prevention measures. Similarly, insurance firms are also utilizing drones to survey severely damaged, toxic, and inaccessible industry sites for claims processing. The above applications of drones are gradually enhancing the risk assessment capability of the insurance companies. Further proliferation of drones will allow cost-cutting and enhance competition among insurance firms.