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Better imagery helps insurers handle rapidly changing claims

The next phase of evolution for claims will be the incorporation of better data from innovative imaging and other emerging sources.

By Matthew Tucker | February 07, 2023 at 12:37 AM
The right imagery can help insurers respond more quickly and effectively to disasters, and can also help them advise customers on how to keep small problems from becoming larger ones. The right imagery can help insurers respond more quickly and effectively to disasters, and can also help them advise customers on how to keep small problems from becoming larger ones. (Photo: Near Space Labs)

Risk profiles of insured properties evolve over time and it can be challenging for property and casualty insurers to update policies to keep pace with normal year-to-year changes. Climate change adds a substantial wrinkle to the equation by increasing the frequency and impact of natural disasters. Access to visual data will be critical for P&C underwriters and adjusters to help their customers recover quickly from disasters, as well as to mitigate and adapt to future changes that impact the claims environment.

The future viability of insurers will hinge upon how they handle the challenges posed by climate change and an evolving world. Challenges include:

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