Drones and the Future of Insurance Carriers and Related Activities
Overview: The insurance industry is poised for significant disruption with the integration of drone technology. Predicted to reach a market value of $127 billion by 2020, drones have a unique role to play in the insurance sector, ranging from risk assessment and underwriting, to claims processing and customer service. This guide explores the future of drones in insurance carriers and related activities, showcasing the projected influence on job roles, the role of drones in weather-related insurance claims, and the potential for enhanced safety and operational efficiency through the use of drone technology.
Drones and Insurance Roles: Drones, boasting a potential market of $127 billion, are said to impact nearly 65% of the insurance job roles. Utilizing drones for different activities such as property inspection and damage assessment can save thousands of hours of hazardous work. Additionally, they have a significant role to play in fraud detection and avoidance. Using high-resolution imaging, drones can provide accurate risk assessments that are crucial during underwriting and claims processing. This technology holds the potential to streamline operational processes, delivering a more efficient and effective service to customers.
Drones in Weather-Related Insurance Claims: Capitalizing on drone technology, the insurance sector can expect to drastically improve its response time in weather-related claims. In fact, drone usage tripled in the wake of Hurricane Florence as insurers dispatched drones to scan and assess the damage. As a result, claim settlements got expedited, ensuring quick relief to those affected. The improved accuracy and efficiency in the claims process resulted in over 90% satisfaction rates among customers.
The Safety & Efficiency of Drone Usage: Drone usage ushers in the pre-eminence of safety and efficiency. Drones' ability to capture images and inspect properties reduces the risk for insurance adjusters by eliminating the need for potentially dangerous manual inspections. Besides, drones can provide 24/7 surveillance, enhancing security against fraudulent claims. On operational efficiency, drones can increase productivity up to a staggering 50% while lowering the costs associated with manual claims processing and risk assessment.
Key Takeaways:
- Drones hold the potential to disrupt about 65% of the insurance job roles.
- Employing drones for weather-related claims can improve customer satisfaction rates to 90% or more.
- Automation via drones can lead to a 50% increase in productivity, coupled with cost savings and improved safety.
3Laws Robotics, a revolutionary company in the robotics sphere, is committed to supporting the vast industry applications of drone technology. Developing innovative software, 3Laws aims to enhance safety and reliability for robotics systems. Its software, 3Laws Supervisor created on cutting-edge Control Barrier Functions, provides a mathematically provable safety measure.
The use cases for their technology span various industries, allowing for increased efficiency and safe human-robot interactions. Particularly in warehouse automation, 3Laws' software has led to a 40% efficiency gain for customer operations. Its dynamic technology also opens up possibilities for drones, easing the path to certification.
Going beyond existing safety precautions, 3Laws offers proactive safety solutions, which unlock the full potential of robotics with dynamic, predictive safety. The compatibility of their software with a broad variety of platforms, including drones, places 3Laws as a next-generation safety solution, poised to drive market trends in the near future.