Drones are helping the insurance industry process claims much quicker in disaster ridden areas.
In the wake of three devastating hurricanes this fall, many insurance carriers have begun to use drones and and other aerial vehicles to aide in the claims process. The use of drones have sped up the turn around time for claims processing dramatically.
Unfortunately, this fall far too many small businesses are beginning to understand the need for protecting their small business with adequate insurance. These same business owners are also getting more familiar with the claims process between the business, the insurance agency and the insurance carrier. If they did not know before, they are becoming familiar with at this time, the fact of how crucial it is for a claim to be processed quickly. Getting victims back to everyday life can have an enormous impact on the communities impacted by natural disasters. This is what the insurance industry is striving to help the communities hurt by the hurricanes over the past few months.
Technology is helping in many ways. First, drones are helping carriers take both still photos and video to observe properties they are not physically able to visit. The carriers can use the information they get from drones, both in the form of aerial photographs and video, to create 3D images of the impacted area. Technology is now allowing them to do this at scale and determine what percentage of a property is destroyed without ever setting foot on the property. Now, this is not possible in all circumstances, but it is possible in many. Every case that is sped up, frees the adjusters to move on to other victims who desperately need help.
According to an article with the Insurance Journal, a recent KPMG (Klynveld Peat Marwick Goerdeler) Survey found, “the two biggest challenges facing insurers are the difficulties in assessing property damage and managing customer expectations”. As a result of the same survey insurance executives overwhelmingly said, ‘To improve claims efficiency and communication with customers, insurance executives cited the use of drones as one of the technologies they will utilize to help quickly settle claims’. Drones are helping with these exact problems facing the insurance industry, by allowing those within the industry to show the victims, with pictures and video, what they are doing and how they are going about doing it.
Through the use of drones many companies within the industry are able to drastically speed up the processing time for claims by allowing the insurance claims processor to get a majority of the claims process done without the ability to physically visit the property. Once they are able to get out to the property, insurance professionals can use the drone to examine several properties in a particular area in a short amount of time. This allows the claims adjuster to spend a short amount determining what properties are most devastated and will need the most of his time. It can also allow the adjuster to determine if another property does not need any further observations on his part and free up time for him to observe other areas that are severely devastated.
This is just the tip of the iceberg for how this and other technologies will help the insurance industry, better serve their clients in the future.