The era of Covid-19, social distancing and quarantine measures will be a driver for the increased use of drones by insurance companies, as the technology’s value becomes a necessity.
This is according to GlobalData senior insurance analyst Beatriz Benito, who believes the pandemic will change the way people and businesses interact, and that contactless drone inspections will become even more valuable to the industry.
“Drones are particularly useful for inspecting large-scale and difficult-to-reach infrastructure, as well as vast areas of land,” she said.
“The value proposition of drones had centred on the speed and safety they offer in loss adjustments, which ultimately resulted in operational efficiencies and cost savings.
“At a time when many insurers have been badly hit by the pandemic, technology that has the potential to bring operational savings is likely to lure the industry.
“On the other hand, customers will benefit from quicker claims processing and faster payouts.”
As the current situation means that walking through a damaged property with a policyholder may no longer be feasible, Benito said the benefits drone technology can bring to the industry are being highlighted more than ever before.
According to GlobalData’s latest Quarterly Tech Trends survey, 35% of firms in the insurance industry said they were investing in drone technology.
However, a larger proportion of firms (68%) expect the technology to have a disruptive influence on the sector.