Insurance businesses must stay updated on data-driven technologies or risk falling behind. (knssr/Adobe Stock) Insurance businesses must stay updated on data-driven technologies or risk falling behind. (knssr/Adobe Stock)

Drones buzz overhead as they meticulously record every angle of a warehouse below. It’s not the set of a blockbuster action movie; it’s the start of a P&C insurance renewal.

This scenario is just one example of how new technologies are changing the way insurance businesses collect, analyze and process data. As a result, they are (theoretically) able to underwrite a wider range of risks using data from a wider range of sources.

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