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Insurers should look at drones as part of a bigger ecosystem

Insurance organizations should view drones as part of a wider set of such disruptive technologies as IoT, blockchain and AI.

By Werner Rapberger | August 09, 2019 at 07:00 AM
Early applications have shown that drones offer a range of insurance-industry operational benefits. (ALM Media archives) Early applications have shown that drones offer a range of insurance-industry operational benefits. (ALM Media archives)

Insurance carriers have been quick to seize upon the potential of commercial drones to improve operational efficiencies in processes such as claims adjudication and to provide rich data that can enable them to make better risk and pricing decisions. With drone technology rapidly maturing and the regulatory environment evolving, insurers should now look at the role drones can play in their wider ecosystem and product strategy.

For the past five years or so, insurers in North America and the rest of the world have experimented with drones for applications ranging from roof inspections to assess damage claims to surveying farm fields for more accurate pricing of crop insurance. These early applications have shown that drones offer a range of operational benefits.

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