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Insurance Article

Drones - The Insurance Industry's Next Game Changer

July 11 2017

A ground breaking technology for the insurance sector

What once was associated with defence, is now transforming the way of monitoring and surveillance in the insurance sector. Drones can not only streamline insurance processes but also reduce faulty claims, while, at the same time improving customer relationships. With minimal human intervention, they capture high quality images and videos in challenging conditions like tough terrain or inclement weather.

Information can be shared real time across different organizations. Drones have been used for commercial purposes to deliver products, map fields and mining areas, and to help in rescue operations. Even entertainment industry have used drones to capture aerial views. Drones are now revolutionising the way insurance sector works.

Enhances the Efficiency and Safety of Insurance Claims Adjusters

Investigating rooflines, areas of crop damage, tracing leaks that caused water damage and assessing origin of fire with the help of lifts, is a part of claim adjuster's role. These processes delay claim adjustment and expose the officials to risk. Usage of drone, reduces the use of ladder, digital camera, notepads etc.

They also provide easy navigation, ability to sneak into hard-to-reach areas, and taking of high-resolution videos and photos, thereby enhancing the efficiency and productivity of claim adjusters. Specialists can examine the situation, real time without having to visit the location often. It increases the safety of officials against harsh weather and slippery surfaces.

Enhances the Productivity of Risk Engineers

Risk Engineers travel to different locations to gather information, conduct risk-assessment surveys and prepare reports. The whole process is time consuming and laptops have their limitations. Instead of climbing ladders or scaffolds to inspect the concerned property, a remote control feature can be used to zoom in or out to capture high-quality visuals. There are also provisions for synced voice dictations and notes recording. It obviates the need for multiple site visits as a major part of the operation can be handled remotely.

Improves Customer Experience

Drought, floods, rains, hurricanes or any other disaster requires claim adjustment teams to reach the affected areas as soon as possible. However inclement weather, riots, fallen trees, poles makes it cumbersome for the teams to reach, which eventually results in failure to resolve large number of claims in a given time. Drones reaches places which humans fail to traverse. Drones can reduce claim settlement times and improve customer relationships.

Reduces False Agricultural Claims

Drones can play a significant role while settling agricultural insurances, as they assess the actual yield and the cultivable land. Latitudinal and longitudinal coordinates mapping, and high-precision cameras provide accurate scenario and protect against false claims. Drone surveys were carried out to get a clear picture in Gujarat where farmers took insurance for vulnerable groundnut but grew cotton in place of it.

The drones saved the insurance companies crores of rupees. Skymet is a member of NITI Aayog panel on the use of drones for agriculture in India. Its fixed-wing drones provide agriculture survey services to the governments of Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and the insurance companies.

Related Article:

Technology’s Benefits for Crop Insurance
How Crop Insurance Will Benefit the Farmers?

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