Claims from severe weather such as hailstorms are increasing infrequency and severity, and insurers are taking measures toalleviate the challenges of processing those claims. Aerial data isa key tool that can help insurers reduce inspection times, fightfraud and improve catastrophe response.
A study from Verisk Insurance Solutions – Underwriting, titled"PropertyHail Claims in the United States: 2000–2013," reveals U.S.insurers handled nearly 9 million hail loss claims valued at morethan $54 billion between 2000-2013. About 70% of claims occurred inthe final six years of the 14-year study, and the average cost perclaim during those six years was 65% higher.
The increasing size and complexity of claims often lead torising claims-handling costs and longer closing times. Aerial datais helping insurers achieve the seemingly conflicting goals ofcompiling detailed claim files while processing those claimsquickly and effectively.
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